Computing Devices Canada Awarded CDN$65 Million Contract By Swedish Navy
OTTAWA, Ontario – The Swedish government has awarded a CDN$65 million (approx. USD$42 million) contract to Computing Devices Canada, a General Dynamics (NYSE: GD) company, for three undersea warfare systems to be installed aboard the Swedish Navy’s Visby Class corvettes, and land-based training to support the systems.
This award is a follow-on contract to a program initially awarded in 1997, and brings the total contract value to date to approximately CDN$170 million (approx. USD$110 million). Under that program, Computing Devices Canada was selected over 15 other competitors to serve as the Prime Contractor, System Designer and System Integrator for the multi-sonar integration package of the first four Swedish Navy Visby Class stealth corvettes.
The Visby corvettes, currently under construction in Sweden, are designed to fulfill anti-submarine, mine countermeasure and surface warfare missions. The Visby Class is the first known production-model stealth vessel, incorporating a variety of signature- and noise-reduction technologies to make it very difficult to discover the ships using traditional radar, infrared or hydroacoustic reconnaissance techniques.
John Watts, senior vice president for Computing Devices Canada, said, "Through the Visby programme we are pioneering concepts of system information generation, management and presentation to one of the most advanced ships in the world. This award will allow Computing Devices to expand its role as a major systems integrator, and employ over 60 Ottawa-based high-tech workers well into 2006."
As prime contractor for the underwater system of the Visby Class corvettes, Computing Devices Canada is responsible for design, integration and delivery of the Visby underwater suite, including coordination of nine major sub-contractors based in Canada, USA, UK, Germany, Sweden and Norway.
The underwater system of the Visby corvettes will be able to perform anti-submarine warfare and mine hunting missions, both in open ocean as well as in the Baltic. Under a very flexible system architecture, Computing Devices Canada will integrate sub-systems into the Visby corvettes, including:
* Variable depth sonar
* Hull-mounted sonar
* Towed array sonar system
* Remotely operated sonars
* Own noise monitoring
* Sonobuoy receivers
* Underwater environment monitoring
* Three-dimensional underwater terrain modeling
This is the second major award received by Computing Devices this year. The company was previously selected by the Canadian Department of National Defence to supply new acoustic systems and ground replay stations for the CP140 Aurora Modernization Program.
Computing Devices Canada is a wholly owned subsidiary of the General Dynamics Corporation, in Falls Church, Virginia. Established in Ottawa since 1948, Computing Devices Canada is Canada's premier defence company, having achieved a global reputation for providing leading edge, technology based solutions to the armed forces in over 20 countries. Computing Devices also has offices in Calgary, Halifax and Bristol, England.
General Dynamics, headquartered in Falls Church, Va., employs approximately 46,000 people 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 14, 2001
Press Contact: (613) 596-7059
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