U.S. Navy Awards General Dynamics $10 Million Contract for Submarine Maintenance Planning
GROTON, Conn. – The U.S. Navy has awarded General Dynamics Electric Boat a $10 million contract modification to continue planning and material procurement in support of the USS Springfield (SSN-761) depot modernization period (DMP). Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
The award modifies a $16.3 million contract announced in February 2003. Under the terms of the contract, Electric Boat is performing engineering, procurement, fabrication and preliminary shipyard work in preparation for the DMP, which is scheduled from May 2004 to June 2005. A DMP comprises repairs, alterations, maintenance and routine work onboard the submarine. The total value of the maintenance-planning contract is $26.3 million.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 64,600 people worldwide and estimates 2003 revenues of $15.5 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 - Friday, September 26, 2003
Press Contact: (860) 433-8556
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