General Dynamics wins Navy contracts

BATH, Maine, 21 January 2005. The U.S. Navy today announced that Bath Iron Works, a General Dynamics company, will receive $562 million in funding to construct an Arleigh Burke-class AEGIS guided missile destroyer.

BATH, Maine, 21 January 2005. The U.S. Navy today announced that Bath Iron Works, a General Dynamics company, will receive $562 million in funding to construct an Arleigh Burke-class AEGIS guided missile destroyer.

The company's Electric Boat division also won a $5.5 million contract for nuclear-maintenance work for submarines homeported at Naval Submarine Base New London in Groton, Conn.

The new destroyer was part of the Navy's Fiscal Year 2002 - 2005 Multi-Year Procurement contract, awarded to Bath Iron Works in September 2002. DDG 112, which is yet to be named, will be the 34th AEGIS destroyer to be built at Bath Iron Works. The shipyard expects to deliver the ship in 2010 in accordance with the requirements of the contract. Bath Iron Works of Bath, Maine, is the lead designer and builder of the ARLEIGH BURKE Class and employs 6,300 people.

Under the terms of the submarine contract, Electric Boat will continue to operate the Nuclear Regional Maintenance Department (NRMD) at the submarine base through Sept. 30, 2005. The company will provide project management, planning, training and radiological-control services to support maintenance, modernization and repairs in support of operational submarines. A core group of about 30 Electric Boat employees are assigned to the NRMD, with surge groups of up to 80 shipyard employees for short periods. The contract was initially awarded in March 2001 and has a potential value of $89 million over five years.

General Dynamics, headquartered in Falls Church, Va., employs approximately 71,600 people worldwide and anticipates 2004 revenue in excess of $19 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.

For more information, see www.generaldynamics.com, or www.gdbiw.com, or www.gdeb.com.

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