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General Dynamics to pump nearly $2 billion into its shipyards | Defense News
U.S. Navy Photo by Mass Communication Specialist 2nd Class Shaun Griffin

General Dynamics to pump nearly $2 billion into its shipyards | Defense News

General Dynamics is investing about $2 billion into its shipyards in the coming years to meet the demands of a growing U.S. fleet, the company’s top executive said Wednesday during an earnings call.

“In response to the significant increased demand from our Navy customer across all three of our shipyards, we’re investing in each of our yards,” said Phebe Novakovic, GD’s chief executive officer.

The company is planning to spend about $1.7 billion at its Electric Boat yard in Connecticut as it ramps up for the next iteration of the Virginia-class attack submarines, the Block V, as well as the Columbia-class ballistic missile submarine.

Source: General Dynamics to pump nearly $2 billion into its shipyards | Defense News