General Dynamics Awarded Two Contract Modifications Valued at $104 Million
FALLS CHURCH, Va. – General Dynamics (NYSE: GD) announced today that two of its units had received modifications to existing U.S. Department of Defense contracts valued at a total of more than $104 million.
The first, awarded on May 29 to General Dynamics Land Systems (Sterling Heights, Mich.) by the U.S. Army Tank-Automotive and Armaments Command, Warren, Mich., was a $76.9 million modification to a cost-plus fixed fee contract for systems technical support for the Abrams Tank Program. Work will be performed in Sterling Heights, and the contract extends through September 2006.
The second award, made May 31 to General Dynamics Ordnance and Tactical Systems (St. Petersburg, Fla.) by the U.S Army Tank and Automotive Command at Picatinny Arsenal, N.J., was a $26.7 million contract modification for the supply of 287,000 rounds of 25mm M919 Armor-Piercing, Fin Stabilized, Discarding Sabot-Tracer (APFSDS-T) ammunition. Work will be managed at General Dynamics’ Marion, Ill., facility and will be completed by August 2003.
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, June 4, 2002
Press Contact: (703) 876-3190
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