General Dynamics Awarded $18.3 Million Ammunition Contract Add-on
ST. PETERSBURG, Fla. – General Dynamics Ordnance and Tactical Systems, a business unit of General Dynamics (NYSE: GD), announced today that the U.S. Army Tank-Automotive and Armaments Command at Picatinny Arsenal, N.J., has awarded an $18,360,000 modification to an existing contract for the production of 180,000 rounds of 25mm M919 Armor-Piercing, Fin Stabilized, Discarding Sabot-Tracer (APFSDS-T) ammunition. This award brings the total contract value to $119 million for the M919 program. This contract will be managed out of General Dynamics’ Marion, Ill. production facility.
General Dynamics Ordnance and Tactical Systems is the sole contractor and systems integrator for the M919; after the planned FY03 production, the company will have delivered approximately 2.2 million rounds to the U.S. Army. The M919 round was developed to replace the M791 and provides enhanced lethality and survivability to the Bradley Fighting Vehicle. According to Major General Paul Eaton, Commanding General, U.S. Army Infantry Center (USAIC), “The M919 is the only 25mm ammunition that allows the Bradley Fighting Vehicle to achieve overmatch capability against current and future threat vehicles.”
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, January 8, 2003
Press Contact: (727) 578-8144
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