Navy Awards General Dynamics $6.6 Million Contract to Operate Navy Drydock
GROTON, Conn. – The U.S. Navy has awarded General Dynamics Electric Boat a $6.6 million contract modification to continue operating the Shippingport drydock (ARDM-4) at the naval submarine base here. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
The award modifies a five-year contract announced in July 2002, which has a total potential value of $34.6 million if all options are exercised. Under the contract, Electric Boat manages, operates and maintains the Shippingport drydock, which is used to lift submarines out of the water for repairs.
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 - Monday, October 27, 2003
Press Contact: (860) 433-8556
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