General Dynamics Awarded $7 Million Contract Modification for Navy Nuclear Work
GROTON, Conn. – The U.S. Navy has awarded a $7 million modification to a previously awarded contract under which Electric Boat will manage and support nuclear-maintenance work for submarines homeported at Submarine Base New London, Conn. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
Under the terms of the contract modification, Electric Boat will continue to operate the Nuclear Regional Maintenance Department (NRMD) at the submarine base through Sept. 30, 2002. The company will provide project management, planning, training and radiological-control services to support maintenance, modernization and repairs in support of operational submarines. A core group of 20 Electric Boat employees are assigned to the NRMD, with surge groups of up to 60 shipyard employees for short periods.
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, March 13, 2002
Press Contact: (860) 433-8556
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