SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 382.95-0.8%4:00 PM EST

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: maceng2 who wrote (178382)9/17/2021 8:36:26 PM
From: TobagoJack  Read Replies (1) of 217740
 
quite funny, when a half-baked 'plan-ette' is seen for what it is, a marketing & and financial pitch, for a bailout

but a pitch that has consequences even if the pitch should ultimately come apart

bloomberg.com

General Dynamics Says U.S. to Begin Study on Submarine Pact
Thomas Black
18 September 2021, 02:23 GMT+8
The U.S., U.K. and Australia will each begin an 18-month review to identify how best to provide nuclear-submarine capabilities to the Australian Navy as part of a security partnership announced on Sept. 15, according to U.S. defense contractor General Dynamics Corp.

The effort is in “its earliest stages,” and plans are still being formed, said Kevin Graney, president of General Dynamics submarine unit Electric Boat, in a Thursday message to employees.

“There is no specific action we’ve been asked to take at this time,” Graney said. “As the only American shipbuilder focused exclusively on the design, construction and maintenance of nuclear-powered submarines, we stand ready to support this endeavor, and have communicated that message to our Navy and government leaders.”

The security partnership would give Australia access to U.S. submarine technology that’s now only shared with the U.K. and comes as China increases its military capability and influence in the Asia-Pacific. The alliance also encompasses shared technologies on artificial intelligence, cybersecurity and other defense measures.

Australia, which plans to build the nuclear submarines in Adelaide, broke off a long-term contract with France for diesel-powered submarines, which are limited by the duration of battery power in how long they can navigate underwater. Nuclear submarines only have to surface to provide supplies for the crews that operate them, making the vessels much more stealthy.

No DecisionsStill, no decisions have been made yet on the partnership and the consultative process will be led by the U.S. departments of Defense, State and Energy, according to a Pentagon official close to the matter.

It’s too soon to tell how Electric Boat will be impacted by the partnership, Graney said. The unit is now building Virginia class nuclear submarines at a pace of two per year, he said, and has started construction on the new Columbia class of submarines, which will be armed with ballistic missiles and is a replacement for the older Ohio class.

The announcement “affirms the strategic importance of nuclear-powered submarines,” Graney told his employees.

— With assistance by Anthony Capaccio

Before it's here, it's on the Bloomberg Terminal.
LEARN MORE
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext