General Dynamics Awarded $13.9 Million U.S. Navy Contract for Nuclear Submarine Work
GROTON, Conn. – The U.S. Navy has awarded a $13.9 million contract to General Dynamics Electric Boat for management and support of nuclear maintenance work for submarines home-ported at Submarine Base - New London, Conn. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
Under the terms of the contract, Electric Boat will operate the Nuclear Regional Maintenance Department (NRMD) at the submarine base through September 2006. The company will provide project management, planning, training and radiological-control services to support maintenance, modernization and repairs. A core group of 22 Electric Boat employees is assigned to the NRMD, with surge groups of up to 110 shipyard employees assigned for short periods.
If all options are exercised and funded, the contract could be worth $61.8 million over three years.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 71,900 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 - Tuesday, January 3, 2006
Press Contact: (860) 433-8556
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