Monica Jackson
General Dynamics has begun to prepare a shipyard as the company aims to secure a potential $6.2B contract by late 2019 to build the U.S. Navy’s first Columbia-class ballistic missile submarine, USNI News reported Wednesday.
Phebe Novakovic, chairman and CEO of General Dynamics, told analysts during a conference call held Wednesday that the company plans to invest $1.7B in equipment modernization efforts to prepare for the submarine construction project.
“I am capitalizing for the ships that I know that I’m going to compete in,” added Novakovic.
The Navy awarded General Dynamics’ Electric Boat subsidiary a potential $5B contract in September of last year to design products and processes necessary to produce the new class of ballistic missile submarines.
