General Dynamics Enters Second Ordering Period of $233 Million Air Force "Corporate Contract"
BLOOMINGTON, Minn. – General Dynamics Advanced Information Systems, a business unit of General Dynamics (NYSE: GD), recently completed an agreement with the Ogden Air Logistics Center, Hill AFB, Utah, to begin the second two-year ordering period of an indefinite delivery/indefinite quantity (ID/IQ) contract for aircraft-related products and services. The contract has a maximum potential value of $233 million through 2010 if all options are exercised; this ordering period will run through September 2004.
Called the Hill AFB Corporate Contract, the agreement enables eligible Department of Defense customers to order any of more than 500 General Dynamics Advanced Information Systems aircraft-related products and services. Items include electronic test equipment for F-16 and B-1B aircraft, and spare parts, repairs, modifications and engineering services to support the General Dynamics products that are used on those planes and others.
Jack Jones, Chief, Aircraft Contracting Division, Ogden Air Logistics Center, said, “Any DoD customer that does business on a sole-source basis with General Dynamics Advanced Information Systems can use the Hill AFB Corporate Contract.”
Current customers of the contract include the Ogden Air Logistics Center; the Oklahoma City Air Logistics Center, Tinker AFB, Okla.; and the Defense Logistics Agency, Richmond, Va. Eligible customers include any DoD organization that requires an aircraft related product or service from General Dynamics Advanced Information Systems.
Kent Ottum, General Dynamics program manager, said, “This contract enables the Air Force to save time and money by allowing customer organizations to issue funded delivery orders in a matter of days using catalog-based pricing. The pricing is stair-stepped, with pricing reductions available as quantities increase, making it an efficient, easy-to-use procurement tool for any of our products and services.”
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 54,000 people worldwide and anticipates 2002 revenues of approximately $14 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, November 20, 2002
Press Contact: (703) 271-7442
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