U.S. Navy Awards General Dynamics $6 Million for Submarine Repair Work
GROTON, Conn. – The U.S. Navy has awarded General Dynamics Electric Boat a $5.9 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 alterations, repairs, maintenance and testing. Initially awarded Sept. 20, the contract being modified has a total potential value of $49.1 million, and is scheduled for completion by April 14, 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 - Monday, September 26, 2005
Press Contact: (704) 714-8014
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