Navy Awards General Dynamics $42 Million Contract for Virginia-class Design Work
GROTON, Conn. – The U. S. Navy has awarded Electric Boat a $42.2-million contract modification for Virginia-class submarine lead-yard services. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
Under the terms of the contract, Electric Boat will maintain, update and support the Virginia-class design and related drawings and data for each submarine, including technology insertion, throughout its construction and post-delivery maintenance period. Electric Boat will also provide all engineering and related services for maintenance and support of Virginia-class ship specifications. The work is expected to be completed by May 2002.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 46,000 people worldwide and anticipates 2001 sales of approximately $11.5 billion. The company has leading market positions in business aviation, information systems, shipbuilding and marine systems, and land and amphibious combat systems.
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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, May 7, 2001
Press Contact: (860) 433-8556
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