General Dynamics Awarded $15.5 Million Contract for Submarine Engineering Work
GROTON, Conn. – The U. S. Navy has awarded General Dynamics Electric Boat a contract modification for engineering and life-cycle support work worth $15.5 million. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
This award modifies a $13.4 million contract originally announced in October 2002 for reactor-plant planning yard work. This work encompasses engineering services for life-cycle support, maintenance and modernization of the reactor plants and selected propulsion-plant systems on Los Angeles, Trident and Seawolf-class submarines, and the nuclear research submarine NR-1. Additionally, Electric Boat will provide similar services for all systems on the Navy’s moored training ships in Charleston, S.C.
If all options are exercised and funded, the contract would be worth $79.8 million over a five-year period ending in 2007.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 70,000 people worldwide and anticipates 2004 revenue of $19 billion. The company is a market leader in mission-critical information systems and technologies; land and expeditionary combat systems, armaments and munitions; 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 14, 2004
Press Contact: (860) 433-8556
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