General Dynamics (ticker: GD, exchange: New York Stock Exchange (.N))
News Release -
General Dynamics Awarded $61 Million Contract Modification for Submarine Work
GROTON, Conn., Feb. 11 /PRNewswire-FirstCall/ -- The U.S. Navy has awarded
General Dynamics Electric Boat a $60.9 million contract modification for
nuclear-submarine work. Electric Boat is a wholly owned subsidiary of General
Dynamics (NYSE: GD).
Under the terms of the contract modification, Electric Boat will provide
the necessary technical/ engineering, design, logistics, and program
management support required to ensure the efficient design and installation of
design and configuration changes. Initially awarded March 3, 2004, the
contract could be worth more than $1.1 billion over five years if all options
are exercised and funded.
Eighty-two percent of the work will be performed at Groton; 9 percent at
Kings Bay, Ga.; 4 percent at Bangor, Wash.; 4 percent at Newport, R.I.; and 1
percent at Quonset Point, R.I. Work performed under this modification is
expected to be completed by February 2008.
General Dynamics, headquartered in Falls Church, Virginia, employs
approximately 70,200 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. More information
about the company is available on the Internet at
SOURCE General Dynamics Electric Boat
/CONTACT: Neil Ruenzel of General Dynamics Electric Boat,
+1-860-433-8556, Cell: +1-860-884-3344, Fax: +1-860-433-8054, or
/Web site: http://www.generaldynamics.com
CO: General Dynamics Electric Boat; U.S. Navy
ST: Connecticut, Georgia, Washington, Rhode Island, Virginia
IN: ARO MAR
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2149 02/11/2005 17:55 EST http://www.prnewswire.com