General Dynamics' MOWAG Receives $30 Million For Piranha Armored Vehicles
KREUZLINGEN, Switzerland – The Danish Army Material Command on June 27, 2003, awarded General Dynamics’ MOWAG a $30 million contract for 22 Piranha IIIC eight-wheeled armoured vehicles. MOWAG AG is a wholly owned subsidiary of General Dynamics (NYSE: GD).
“This contract is a further sign of our customer’s trust in the performance and reliability of the Piranha armoured vehicle,” said Jurg Gygax, president of MOWAG. “Denmark is relying on the high level of mine protection the Piranha provides soldiers and our excellent record of performance.”
The contract calls for 11 ambulance and 11 armored personnel carrier versions of the Piranha. The first deliveries of the ambulance versions will begin within 18 months. The vehicles are to be used in peace support operations by the Danish Army. This is MOWAG’s second contract with the Danish Army Material Command. It follows an earlier order for 22 Piranha IIIH, delivered to Denmark in 1999-2000.
MOWAG AG in Kreuzlingen, Switzerland, develops, designs and manufacturers state-of-the-art vehicles for military applications. More than 6,000 armored wheeled vehicles of MOWAG Piranha, MOWAG Eagle and Duro are in operation worldwide. Mowag became a business unit of General Dynamics in 2003 and employs approximately 450 people.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 57,000 people worldwide and anticipates 2003 revenues of $15 billion. The company has leading market positions in mission-critical information systems and technologies, land and amphibious combat systems, 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 - Monday, July 7, 2003
Press Contact: (586) 825-7930
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