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| Press Release January 3, 2000 |
BATH, MAINE (January 3, 2000) -- The U.S. Navy has awarded General Dynamics Bath Iron Works a $74 million cost-plus-award fee option for Lead Yard Class Services on the DDG 51 Class AEGIS Destroyer Program. The award is for option year three of a five-year contract awarded to the company in December of 1995. Funding to be provided at option award is $32 million.
Bath Iron Works, lead designer and builder of the DDG 51 AEGIS Destroyer, launched its nineteenth destroyer of the class on November 20, 1999. The shipyard has a total of nine DDG 51 class destroyers in its backlog, and has delivered 16 of the destroyers to the U.S. Navy to date.
Bath Iron Works of Bath, Maine, a leader in surface combatant design and construction, employs 7,700 people. It is a subsidiary of General Dynamics (NYSE:GD), headquartered in Falls Church, Virginia. General Dynamics has leading market positions in shipbuilding and marine systems, land and amphibious combat systems, information systems, and business aviation. The company employs 44,000 people worldwide and has annualized sales of approximately $10 billion. More information about General Dynamics can be found on the worldwide web at www.generaldynamics.com.
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