The factory alone was worth more than $22 million, according to the Canadian government's calculations, excluding the value of the remaining contracts for planes or spare parts. It was up for sale, and Hopkins bought the company for $10 million in 1946. Canadair purchase Ĭanadair was owned by the Canadian government and was suffering from the same post-war malaise as Electric Boat. President and chief executive officer John Jay Hopkins started looking for companies that would fit into Electric Boat's market in hopes of diversifying.

Įlectric Boat was cash-flush but lacking in work following World War II, during which it produced 80 submarines for the Navy, with its workforce shrinking from 13,000 to 4,000 by 1946. The first submarine built in Groton to be delivered to the U.S.

In 1933 Electric Boat acquired ownership of a shipyard in Groton, Connecticut, to build submarines. Between 19, the company was named Submarine Boat Corporation.

In 1906, Electric Boat subcontracted submarine construction to the Fore River Shipyard in Quincy, Massachusetts, to build the submarines they had designed and won contracts for. Navy's first modern submarines which were purchased by the Navy in 1900. Electric Boat was responsible for developing the U.S. In 1899, Isaac Rice bought the company from Holland and renamed it Electric Boat Company. General Dynamics traces its ancestry to John Philip Holland's Holland Torpedo Boat Company. Main article: General Dynamics Electric Boat The current chairman and chief executive officer (CEO) is Phebe Novakovic. In 2020, General Dynamics had worldwide sales of $37.9 billion and a workforce of more than 100,000 full-time employees. The company’s products include Gulfstream business jets, Virginia- and Columbia-class nuclear-powered submarines, Arleigh Burke-class guided-missile destroyers, M1 Abrams tanks and Stryker armored fighting vehicles. įormed in 1954 with the merger of submarine manufacturer Electric Boat and aircraft manufacturer Canadair, the corporation today consists of ten subsidiary companies with operations in 45 countries. The company is a Fortune 100 company, and was ranked No. As of 2020, it was the third-largest defense contractor in the United States, and the third-largest in the world, by sales. General Dynamics Corporation ( GD) is an American publicly traded, aerospace and defense corporation headquartered in Reston, Virginia.

General Dynamics Information Technology.

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