General Dynamics Awarded $12.5 Million MK19 Gun Contract
BURLINGTON, Vt. – General Dynamics Armament Systems, a business unit of General Dynamics (NYSE: GD), has been awarded a $12.5 million, firm-fixed price contract by the U.S. Army, Tank-automotive Command in Rock Island, Ill., for production of 832 MK19 40mm grenade machine guns. The three-year contract includes options for an additional 2,496 guns with a maximum order value of $49 million. The MK19s will be produced at the General Dynamics facility in Saco, Maine.
General Dynamics has produced more than 25,000 MK19 systems for the U.S. Government since 1986. Firing M430 High Explosive Dual Purpose (HEDP) grenades, the MK19 enhances the normal infantry firepower, which consists of rifles, mortars and crew-served machine guns, by providing lethal firepower. American Ordnance, a General Dynamics Armament Systems joint venture, produces the M430 round for the MK19 at the Milan Army Ammunition Plant in Milan, Tennessee.
General Dynamics is headquartered in Falls Church, Virginia. The company employs approximately 47,000 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, 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 - Thursday, June 28, 2001
Press Contact: (802) 657-6486
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