• Military Menu                       

• Introduction
• Systems
• Facilities
• Agencies
• Industry
• Operations
• Countries
• Hot Documents
• News
• Reports
• Policy
• Budget
• Congress
• Links

• WMD
• Intelligence
• Homeland Security
• Space

General Dynamics Awarded $63.5 Million in Contract Modifications for Submarine Work

GROTON, Conn. – The U.S. Navy has awarded General Dynamics Electric Boat a $21.5 million contract modification for work on Trident ballistic-missile submarines, and a $42 million contract modification for a Selected Restricted Availability (SRA) of the USS Seawolf (SSN 21). Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Under the terms of the first award, Electric Boat will provide engineering services, material procurement and fabrication for D-5 (Trident II) strategic-weapon system modernization. The contract being modified was initially awarded in May 1999 and could be worth more than $742 million if all options are exercised and funded. The work will be performed at Groton (54 percent); Kings Bay, Ga. (20 percent); Bangor, Wash. (18 percent); Newport, R.I. (4 percent); and Quonset Point, R.I. (4 percent), and is expected to be completed by March 2004.

Under the second award, which modifies a contract initially awarded in April, Electric Boat will execute a planned SRA of the USS Seawolf in Groton. An SRA consists of repairs, alterations, maintenance and routine work onboard the submarine; at peak times, up to 200 Electric Boat employees could be engaged in the work. Work is expected to be completed in September 2004.

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 - Tuesday, December 23, 2003
Press Contact: (860) 433-8556