General Dynamics Receives $7M Contract to Perform Nuclear Work at Submarine Base
GROTON, Conn. – The U. S. Navy has awarded Electric Boat a one-year, $7 million contract to manage and support nuclear-maintenance work for submarines homeported at Submarine Base New London, Connecticut. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
Under the terms of the contract, Electric Boat will establish and operate the Nuclear Regional Maintenance Department at the submarine base. The company will provide project management, planning, training and radiological control services to support maintenance, modernization and repairs of operational submarines. A core group of 20 Electric Boat employees will be assigned to the department, with surge groups of up to 60 employees for short periods.
"This contract reflects Electric Boat’s ongoing effort to obtain more submarine maintenance work," said Electric Boat President Mike Toner. "Our performance on this contract is vital both for the Navy’s continuing operational capabilities and for the company’s ability to maintain its critical nuclear skills in a low-rate production environment."
General Dynamics of Falls Church, Virginia, has leading market positions in shipbuilding and marine systems, land and amphibious combat systems, information systems, and business aviation. The corporation employs approximately 46,000 people and anticipates 2001 sales of approximately $11.5 billion.
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Any "forward-looking statements" contained in this press release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
General Dynamics Corporation (ticker: GD, exchange: NYSE)
News Release - Monday, March 5, 2001
Press Contact: (860) 433-8556
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