U.S. Navy Awards General Dynamics $30M Contract Modification for SSGN Work
GROTON, Conn. – The U.S. Navy has awarded General Dynamics Electric Boat a $30 million contract modification for planning activities and manufacturing long-lead-time materials required for the conversion of Trident SSBN submarines to Trident SSGNs, multimission submarines optimized for tactical strike and special-operations support. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
This award modifies a five-year, $443 million contract announced in September 2002 for design and related support work to convert the first four Trident ballistic-missile submarines to an SSGN configuration. If all options are exercised and funded, the contract will be worth a total of $654 million.
Under the terms of the modification, Electric Boat will continue to facilitate the conversion of USS Florida (SSBN-728) at Norfolk Naval Shipyard in Virginia, which includes planning and coordinating the conversion activities, developing and managing conversion work packages, and providing material control for items stored at the shipyard. The long-lead-time manufacturing effort includes material acquisition, manufacturing, inspection, test and storage.
Work will be performed in Groton (21 percent), Norfolk (19 percent) and Quonset Point, R.I. (60 percent), and is expected to be completed by March 2005.
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.
# # #
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, December 12, 2003
Press Contact: (860) 433-8556
|
NEWSLETTER
|
| Join the GlobalSecurity.org mailing list |
|
|
|
