updated 11/16/2010 8:17:22 AM ET 2010-11-16T13:17:22

NEWPORT NEWS, Va., Nov. 16, 2010 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE:NOC) reached a significant construction milestone by successfully launching the Virginia-class submarine California (SSN 781) at the company's Shipbuilding sector in Newport News, Va. on Nov. 14.

A photo accompanying this release is available at http://media.globenewswire.com/noc/mediagallery.html?pkgid=8332   

"Launch is a special milestone in the life of a submarine, this is the first time she's put into the water," said Becky Stewart, vice president of submarines and fleet support for Northrop Grumman Shipbuilding-Newport News. "California is 88 percent complete. This event means we're one step closer to delivering the ship well ahead of the contract delivery date."

On Nov. 11, shipbuilders used a transfer car system to move the 7,800-ton ship out of the construction facility to the floating dry dock. Two days later, the floating dry dock was submerged, successfully launching California into the James River. Once in the water, tugboats moved California to the shipyard's submarine pier where final outfitting and testing will take place.

California, the eighth ship of the Virginia class, is named after the "Golden State." The ship was christened on Nov. 6, 2010. Upon delivery to the Navy in 2011, it will be the most modern and sophisticated attack submarine in the world, providing undersea supremacy well into the 21st century. Northrop Grumman Shipbuilding is teamed with General Dynamics Electric Boat to build Virginia-class submarines.

Northrop Grumman Corporation is a leading global security company whose 120,000 employees provide innovative systems, products, and solutions in aerospace, electronics, information systems, shipbuilding and technical services to government and commercial customers worldwide. Please visit www.northropgrumman.com for more information.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 4.93%
$30K home equity loan FICO 5.20%
$75K home equity loan FICO 4.58%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.42%
13.40%
Cash Back Cards 17.92%
17.91%
Rewards Cards 17.13%
17.11%
Source: Bankrate.com