General Dynamics NASSCO Awarded $100 Million Contract for Twelfth T-AKE's Long-Lead Materials
SAN DIEGO – General Dynamics NASSCO, a wholly-owned subsidiary of General Dynamics (NYSE: GD), has been awarded a $100 million contract from the U.S. Navy to purchase long-lead materials for the construction of a twelfth T-AKE dry cargo-ammunition ship. NASSCO already is under contract to construct 11 T-AKE ships at its shipyard.
Under the contract, NASSCO will place orders for the ship’s engines and other components that have significant manufacturing lead times. A contract that funds construction of T-AKE 12 is expected to be awarded by February 2009. Construction of the ship will begin in the first quarter of 2011, with delivery scheduled to occur in the fourth quarter of 2012.
NASSCO has delivered five T-AKE ships to the Navy and is currently building the sixth through ninth ships of the class. With 12 ships under contract, the Navy has options to build two additional T-AKEs at NASSCO for a total class of 14 ships.
General Dynamics NASSCO employs more than 4,700 people and is the only major ship construction yard on the West Coast of the United States. In addition to T-AKE ships, the San Diego shipyard is also building the first two of nine product carriers for U.S. Shipping Partners L.P. More information about NASSCO can be found at www.nassco.com.
General Dynamics, headquartered in Falls Church, Va., employs approximately 84,000 people worldwide and reported 2007 revenues of $27.2 billion. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available on the Internet at www.generaldynamics.com.
June 11, 2008
Contact: Karl D. Johnson
Tel: (619) 544-8860
Email: kjohnson@nassco.com
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