Navy Awards General Dynamics $5.9 Million Contract Modification
GROTON, Conn. – The U.S. Navy has awarded General Dynamics Electric Boat, a business unit of General Dynamics (NYSE: GD), a $5.9 million contract modification to provide design, engineering and technical support for modification to the submarine Jimmy Carter (SSN-23). Electric Boat is now altering the Jimmy Carter, the third and final Seawolf-class submarine, to accommodate advanced technology for naval special warfare, tactical surveillance and mine warfare operations.
The modifications will require changes to the basic Seawolf design in the areas of ballast control, mission-management spaces, and various services. A unique feature of the modification is the creation of a flexible ocean interface, referred to as the "wasp waist," which will enable the Navy to deploy and recover various payloads without having to use torpedo tubes. The ship is scheduled for a 2004 delivery.
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 - Tuesday, April 2, 2002
Press Contact: (860) 433-8556
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