General Dynamics Awarded $354-Million Sub Contract —Option For Two More

General Dynamics has been awarded a $354,500,000 contract by the U.S. Navy for construction of a fifth Trident ballistic missile submarine, plus options for construction of two more.

This new award raises the value of the company's contracts for the 560-foot-long, 18,750-ton missile-firing submarines to more than $1.3 billion.

The highly advanced Tridents were designed and are being built at the company's Electric Boat Division in Groton, Conn. The keel for the first of the class, the Ohio, was laid early last year and the keel for the second, the Michigan, was laid April 4 of this year. Fabrication of subassemblies for the third and fourth ships is well along at the Division's Quonset Point, R.I., facility.

David S. Lewis, chairman of the board and chief executive of General Dynamics, said: "Our contracts for these five Tridents are on a basis that provides the company with the opportunity for steady earnings for many years to come, and we expect to receive orders for additional ships of this class which will extend this long-term program significantly." Trident construction will offer job opportunities for the people of Connecticut and Rhode Island for the next several years as the program expands. Currently, the Electric Boat Division employs nearly 30,000 people, primarily in those two states.

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