U.S. Navy Awards General Dynamics $17.2 Million in Submarine Work
GROTON, Conn. – The U. S. Navy has awarded Electric Boat a $17.2-million contract modification to provide design agent, planning yard, and engineering and technical support for various nuclear submarines. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
Under the terms of the one-year award, Electric Boat will perform design agent services, update ship drawings and related data, and provide planning, scheduling and technical support for overhauls. Work will be performed on Seawolf-class and Virginia-class submarines, as well as the proposed SSGN, the designation given to Trident submarines converted to conventional-strike and special-warfare platforms.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 52,000 people worldwide and anticipates 2001 sales of approximately $12 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 - Wednesday, October 31, 2001
Press Contact: (860) 433-8556
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