General Dynamics Awarded $23 Million Contract for UK Astute-Class Submarine Work
GROTON, Conn. – General Dynamics Electric Boat has received a $23 million contract modification to provide design assistance in the development and production of the Astute-class nuclear attack submarine for the Royal Navy. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
The award modifies a contract initially announced in March 2003 and brings the total value of the work to $52.7 million. Under the contract, Electric Boat will provide the resources required to complete timely, high-quality drawing outputs to support the production program of the Astute-class submarines. Ninety percent of the work will be performed in Groton; the remainder will be done in Barrow-in-Furness, Cumbria, UK.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 66,900 people worldwide and estimates 2003 revenues of $16.1 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 - Thursday, October 23, 2003
Press Contact: (860) 433-8556
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