General Dynamics Awarded $19.9 Million Propelling Charge Contract Option
ST. PETERSBURG, Fla. – General Dynamics Ordnance and Tactical Systems, a business unit of General Dynamics (NYSE: GD), announced today that the U.S Army TACOM/ARDEC Command at Picatinny Arsenal, N.J. has exercised a $19.9 million option on an existing contract for the Load, Assemble and Pack of the M231/M232 Propelling Charges for the 155mm Modular Artillery Charge System. This option brings the total contract value to $34.5M for the MACS program.
The Modular Artillery Charge System was developed for use in all currently fielded 155mm howitzer systems and is compatible with both 39 caliber and 52 caliber cannons. This contract will be managed out of the General Dynamics Ordnance and Tactical Systems headquarters located in St. Petersburg, Fla.
General Dynamics Ordnance and Tactical Systems manufactures large- and medium-caliber ammunition and precision metal components; provides explosive load, assemble and pack services for a variety of tactical missile and rocket programs; and designs and produces shaped charge warheads and control actuator systems.
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 - Tuesday, January 14, 2003
Press Contact: (727) 578-8144
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