U.S. Navy Awards General Dynamics $34 Million for Submarine Repair Work
GROTON, Conn. – The U.S. Navy has awarded General Dynamics Electric Boat a $34 million contract modification to perform maintenance, repairs and alterations on the USS Augusta (SSN-710). Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
Known as a Pre-Inactivation Restricted Availability, the work will be performed at the Naval Submarine Base in Groton and comprises alternations, repairs, maintenance and testing. Including a planning award announced Tuesday, the contract has a total value of $43.2 million, and is scheduled for completion by March 31, 2006.
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 - Friday, September 23, 2005
Press Contact: (860) 433-8556
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