U.S. Navy Awards General Dynamics $14.4 Million Submarine Engineering Contract
GROTON, Conn. – The U.S. Navy has awarded General Dynamics Electric Boat a $14.4 million contract modification for submarine engineering and life-cycle support work. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
The award modifies a five-year, $13.4 million contract announced in October 2001. Under the terms of the contract, Electric Boat will perform reactor plant planning yard services; all work will be performed at Groton. If all options are exercised and funded, the contract would be worth up to $79.8 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, October 3, 2003
Press Contact: (860) 433-8556
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