General Dynamics Wins Demilitarization Contract
ST. PETERSBURG, Fla. – General Dynamics Ordnance and Tactical Systems, a business unit of General Dynamics (NYSE: GD), has been awarded a $30 million contract with four option years from the U.S. Army Field Support Command, Rock Island, Ill., for the demilitarization of munitions. This award culminates a winner-take-all competition to establish a long-term commercial provider of demilitarization services. The total potential value of the contract is $191 million if all options are exercised.
The program involves demilitarizing 54 different types of conventional ammunition within six munitions families: Cluster Bombs, HE Bombs, Improved Conventional Munitions (ICM), Propellant Charges, Explosive D Bombs and Pyrotechnics.
Ammunition demilitarization is a process that involves the separation of the munitions’ elements, such as explosives, metal parts and plastics. Usable components are reclaimed for reuse while the remaining elements are rendered safe for disposal. General Dynamics Ordnance and Tactical Systems will function as the prime contractor and lead systems integrator. General Dynamics has a long history providing demilitarization services, and is the world largest demilitarization contractor
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 70,800 people worldwide and had 2004 revenue of $19.2 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 - Monday, August 29, 2005
Press Contact: (727) 578-8144
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