General Dynamics Awarded $7 Million Stryker Repair Contract
STERLING HEIGHTS, Mich. – The U.S. Army TACOM Lifecycle Management Command has awarded General Dynamics Land Systems, a business unit of General Dynamics (NYSE: GD), a $7 million contract modification for Stryker combat vehicle repair work.
This award is for initial funding to quickly reset heavily used Stryker infantry combat vehicles to like-new condition following their return from operational deployment in Iraq. Work will be performed in Fort Lewis, Wash., Sterling Heights, Mich., and Anniston, Ala., by existing General Dynamics employees. Activities include parts procurement, labor and physical repair and should be complete by Sept. 30, 2006.
The contract being modified was initially awarded in May 2002 and has total cumulative value of approx. $550 million.
General Dynamics, headquartered in Falls Church, Va., 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 - Wednesday, September 28, 2005
Press Contact: (508) 880-1636
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