March 29, 2021
HUNTINGTON INGALLS INDUSTRIES-GENERAL DYNAMICS TEAM AWARDED CONTRACT MODIFICATION FOR CONSTRUCTION OF 10TH VIRGINIA-CLASS BLOCK V SUBMARINE AWARDED BY U.S. NAVY
NEWPORT NEWS, Va., March 29, 2021 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries (NYSE: HII) announced today that the shipbuilding team, which includes its Newport News Shipbuilding division, has been awarded a contract modification in support of construction of the 10th Virginia-class Block V submarine.
In December 2019, Newport News and teaming partner General Dynamics Electric Boat received a $22 billion contract to build nine Virginia-class submarines. The contract modification, which exercises an option for the last fast-attack submarine of the block, brings the total value of the contract for Newport News to $9.8 billion.
“We are pleased that Congress supported the restoration of funding for the 10th Virginia-class boat in Block V,” said Jason Ward, Newport News’ vice president of Virginia-class submarine construction. “We look forward to building and delivering the final boat of the block that maintains production at two submarines per year and continues to stabilize the industrial base.”
In total, Newport News and Electric Boat have built and delivered 19 Virginia-class submarines. Construction on the 10th submarine of the Block V is expected to begin in early 2024.
About HII
HII is America's Seapower Company. The nation’s largest shipbuilder, HII builds the manned and unmanned maritime systems and all-domain mission technologies that project U.S. and allied power around the world. With a more than 140-year history of advancing U.S. national security, HII is headquartered in Virginia and employs 45,000 people across three divisions.
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