Navy Awards General Dynamics $52.5 Million for Virginia-class Work
GROTON, Conn. – The U. S. Navy has awarded General Dynamics Electric Boat, a business unit of General Dynamics (NYSE: GD), a $52.5 million modification to an existing contract for Virginia-class submarine lead-yard services.
Under the terms of the contract, Electric Boat will maintain, update and support the Virginia-class design and related drawings and data for each submarine, including technology insertion, throughout its construction and post-delivery maintenance period. Electric Boat will also provide all engineering and related services for maintenance and support of Virginia-class ship specifications. The work is expected to be completed by April 2003.
The original contract was awarded in September 2000.
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 - Monday, April 8, 2002
Press Contact: (860) 433-8556
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