Globe Composite Solutions Composite Components for New Virginia Class Attack Submarines

16 January 2005

Globe Composite Solutions, Ltd. has been awarded a contract to provide special composite components for the next seven Virginia class attack submarines.

This order falls on the heels of Globe supplying similar parts for Seawolf class submarines and the first four Virginia-class submarines. The lead ship of the class, USS Virginia (SSN774), was commissioned on October 23, 2004; another three ships are currently under construction.

Designed to meet the Navy’s requirements in a post-Cold War era, the Virginia class submarines are claimed top be the most advanced ships in the fleet, using state-of-the-art technologies to increase firepower, maneuverability and stealth. The 377-feet, 7,800-ton Virginia class ships are capable of submerged speeds of more than 25 knots and can stay submerged for up to three months at a time.

This is the first multi-submarine order for the company, calling for at least one ship per year through FY 2009. This multi-year contract enables Globe to purchase materials and manufacture advanced tooling for multiple ships at one time, achieving significant economies of scale for the US Navy, along with its two prime contractors, General Dynamics Electric Boat and Northrop Grumman Newport News.

“I am pleased that Globe was selected to provide these mission-critical components,” said Carl W. Forsythe, President and CEO of Globe. “This is indeed a testimony to the quality of our team and the innovative manufacturing processes we employ to provide cost-effective solutions to both military and industrial customers. This long-term contract allows Globe to further invest in our people and expand our development and manufacturing capabilities to better serve the growing demand for high-performance, yet cost-effective, non-metallic components”, he added.

Globe Composite Solutions, formerly known as KFGI, Ltd., acquired the assets of Globe Rubber Works, Inc., in August 2004. Globe’s research & development, manufacturing and assembly operations are located in the Boston area and its executive offices are located in Dallas, TX. The company serves a diverse set of customers including Siemens, US Postal Service, GE Medical Systems, FKI Logistex, United Parcel Service, Vanderlande and Bowe/Bell & Howell.

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