General Dynamics Awarded $409 Million Contract to Build New DDG 51-Class Destroyer
BATH, Maine – On December 27 the U.S. Navy awarded a $409 million contract modification to Bath Iron Works, a business unit of General Dynamics (NYSE: GD), to build DDG 106, an Arleigh Burke (DDG 51) Class destroyer, and for advance procurement for ships to be built in 2004-2005. Bath Iron Works is the lead designer and builder of the DDG 51-class destroyers.
This contract modification provides funding for a previously announced ship that was awarded to the company as part of a seven-ship multiyear contract in September 2002. Bath Iron Works has 14 DDG-51 Class destroyers in its backlog, including DDG 106.
Bath Iron Works of Bath, Maine, a leader in surface combatant design and construction, employs 6,700 people. It is a subsidiary of General Dynamics, headquartered in Falls Church, Virginia. General Dynamics 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.
# # #
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 - Thursday, January 2, 2003
Press Contact: (207) 442-1149
|
NEWSLETTER
|
| Join the GlobalSecurity.org mailing list |
|
|
|
