General Dynamics Units Awarded $131 Million in Defense Contracts
FALLS CHURCH, Va. – General Dynamics (NYSE: GD) announced today that four of its business units – Gulfstream Aerospace Corporation, General Dynamics Armament Systems, General Dynamics C4 Systems and General Dynamics Ordnance and Tactical Systems – have been awarded Defense Department contracts worth more than $131 million since Friday, February 22.
Among them, Gulfstream Aerospace Corp. (headquartered in Savannah, Ga.) was awarded modifications to two existing U.S. Air Force contracts, to provide logistics support and communication systems upgrades for C-37A (Gulfstream V) aircraft. One contract modification provides $10.3 million for fiscal year 2002 contractor logistics support for Air Force C-37A aircraft; the second authorizes $7.7 million for C-37A communication system upgrades to be completed by September 2006.
In addition, General Dynamics Armament Systems, Burlington, Vt., received an order valued at $91 million for the production of Hydra-70 rockets from the U.S. Army Operations Support Command, Rock Island, Illinois. This order, for the Army, is part of a five-year contract awarded to General Dynamics in June 1999.
As the prime contractor for Hydra-70 rocket production, General Dynamics provides system management of this program at its Burlington headquarters. Primary work on the program will be performed at General Dynamics’ Camden, Arkansas facility, while some component assembly work will be performed at General Dynamics’ Stone County facility in McHenry, Mississippi.
A third unit, General Dynamics C4 Systems of Taunton, Mass., was awarded a $9.2 million modification to a firm-fixed-price contract to exercise options for common hardware/software items for Army tactical command and control systems computers and assisted peripherals for battlefield commanders. Work will be performed in Taunton, Mass., and is to be completed by April 10, 2005.
Finally, General Dynamics Ordnance and Tactical Systems, (headquartered in St. Petersburg, Fla.) was awarded an $11.8 million modification to a firm-fixed-price contract for 1.2 million rounds of 30mm ammunition for target practice. Work is to be completed by Sept. 30, 2003.
Gulfstream Aerospace Corporation designs, develops, manufactures, markets and services the world’s most technologically advanced intercontinental business jet aircraft. Gulfstream has produced more than 1,300 aircraft for customers around the world since 1958. To meet the aviation needs of its customers, Gulfstream offers a full range of aircraft products and services, including the Gulfstream 100®, Gulfstream 200®, Gulfstream IV-SP®, the ultra-long range Gulfstream V® and Gulfstream V-SP®. The company employs some 8,300 people at eight locations.
General Dynamics Armament Systems provides a broad range of armament solutions for a full range of military applications. It designs, develops and produces complete armament systems for fixed and rotary wing aircraft, land vehicles and sea-based platforms. In addition, it provides system management for several key DoD programs, including the HYDRA-70.
General Dynamics C4 Systems provides secure command, control, computing, communication and information solutions that integrate custom-developed and commercial off-the-shelf products for the military and commercial markets. It designs, integrates and supports strategic and tactical battlefield communication systems, worldwide. It has pioneered automated approaches to mission planning; battlespace management; targeting/fire support; mapping, charting and geodesy; and simulation, for its military and commercial customers. It also provides environmentally hardened and special packaging of computer equipment and peripherals for both customer segments.
General Dynamics Ordnance and Tactical Systems manufactures large- and medium-caliber ammunition and precision metal components; provides explosive load, assemble and pack services for a variety of tactical missile and rocket programs; and designs and produces shaped charge warheads and control actuator systems.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 52,000 people worldwide and had 2001 revenues of $12 billion. The company has leading market positions in land and amphibious combat systems, mission-critical information systems and technologies, shipbuilding and marine systems, and business aviation.
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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, February 27, 2002
Press Contact: (703) 876-3190
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