RT- General Dynamics Awarded $57M Contract Modification for Submarine Work
GROTON, Conn., Nov. 20 /PRNewswire-FirstCall/ -- The U.S. Navy has awarded
General Dynamics Electric Boat a $56.9 million contract modification for
nuclear-submarine work. Electric Boat is a wholly owned subsidiary of General
Dynamics (NYSE: GD).
The contract was initially awarded in May 1999 and could be worth more
than $742 million over five years if all options are exercised and funded.
Under the terms of the modification, Electric Boat will provide design,
engineering, material and logistics support for the Trident program, the
Trident UK program, the two operational Seawolf-class submarines, NR-1, and
efforts supporting Los Angeles-class ships. Electric Boat will also provide
planning, scheduling and technical support for submarine maintenance
activities.
Fifty-three percent of the work will be performed at Groton; 25 percent at
Bangor, Wash.; 18 percent at Kings Bay, Ga.; and 4 percent at Newport and
Quonset Point, R.I. Work performed under the modification is expected to be
completed by September 2003.
General Dynamics, headquartered in Falls Church, Virginia, employs
approximately 54,000 people worldwide and anticipates 2002 revenues of
approximately $14 billion. The company has leading market positions in land
and amphibious combat systems, mission-critical information systems and
technologies, shipbuilding and marine systems, and business aviation.
SOURCE General Dynamics Electric Boat
/CONTACT: Neil Ruenzel of General Dynamics Electric Boat,+1-860-433-8556, fax:
+1-860-433-8054, or nruenzel@ebmail.gdeb.com/
/Web site: gdeb.comhttp://www.generaldynamics.com/
Nov-20-2002 22:41 GMT
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