General Dynamics and Oto Melara Team for U.S. Market
ST. PETERSBURG, Fla. – General Dynamics Ordnance and Tactical Systems, a business unit of General Dynamics (NYSE: GD), announced today that it has signed a letter of intent for cooperation on the sale of weapon systems and ammunition to the U.S. armed forces with Oto Melara SpA of La Spezia, Italy. The agreement provides for the marketing, sale and ultimately U.S. production of the 76mm Super Rapid Naval Gun System, the precision guided ammunition DART and the unguided ammunition ART, developed by Oto Melara.
Oto Melara is part of the Finmeccanica Group, and is recognized for its production of naval weapon systems, field and armored vehicles and gun turrets. The company’s recent ammunition initiatives have focused on medium range naval gun systems to support various programs such as the U.S. Coast Guard’s Deepwater and the U. S. Navy’s Littoral Combat Ship.
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 57,000 people worldwide and anticipates 2003 revenues of $15 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 -Monday, July 21, 2003
Press Contact: (727) 578-8144
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