tiprankstipranks
General Dynamics awarded $5.13B Navy contract modification
The Fly

General Dynamics awarded $5.13B Navy contract modification

General Dynamics was awarded a $5.13B cost-plus-fixed-fee and cost-plus-incentive-fee modification to previously awarded contract. This modification procures missile tube long-lead-time material; missile tube manufacturing; additional advance procurement, including advance construction and multi-program material-procurement, and production backup units; planned program equipment replacement and spare material for follow-on Columbia-class submarines; and logistics/sustainment support for the U.S. and United Kingdom programs. This modification also includes additional Submarine Industrial Base, or SIB, enhancements as part of the Integrated Enterprise Plan and multi-program material procurement supporting Columbia-class ballistic missile submarines and the nuclear shipbuilding enterprise. The industrial base development work is for the furtherance of the Navy’s plan of serial production of Columbia and Virginia submarines. Pursuant to the president’s budget for FY23, the requirements are included for SIB investment for strategic sourcing, supplier development, workforce development, and technology opportunities. Funding is pursuant to the president’s budget for fiscal 2023 and the Further Continuing Appropriations and Extensions Act, 2023. Work was expected to be completed by June 2028. No funding will be obligated at the time of award. The Naval Sea Systems is the contracting activity.

Published first on TheFly

See today’s best-performing stocks on TipRanks >>

Read More on GD:

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles