General Dynamics Awarded $15 Million to Continue Supporting the Excalibur Production ProgramAugust 15, 2007 ST. PETERSBURG, Fla. General Dynamics Ordnance and Tactical Systems, a business unit of General Dynamics (NYSE: GD), was recently awarded $15 million for Hi-G 4-Axis Control Actuator Systems as part of its continuing support of Raytheon’s Excalibur (XM982) Block 1a production program. This award brings the total Excalibur contract value for General Dynamics Ordnance and Tactical Systems to more than $30 million. General Dynamics Ordnance and Tactical Systems produces a variety of components for the Excalibur (XM982) program including the unitary warhead, the Hi-G 4-Axis CAS and a variety of precision metal parts. The unitary warhead combines penetration and blast fragmentation with Insensitive Munitions features designed to defeat multiple targets including personnel, structures, light armor and trucks in urban and complex terrain. The Hi-G 4-Axis control actuator system provides command authority to support mission defined projectile maneuvers by using four motors and a power transmission mechanism that have qualified to 15,000 Gs. The actuator also features a patented cover ejection and fin deployment system and COTS electronics package. Work for the Excalibur program is performed at the company’s Niceville, Fla., Anniston, Ala., and Healdsburg, Calif. facilities. “More than ever, our soldiers need superior and effective weapons to meet mission critical goals and the Excalibur is a great example of meeting that need,” said Richard P. Davitt, vice president of Precision Systems for General Dynamics Ordnance and Tactical Systems. Excalibur is the world’s first precision guided artillery projectile and is currently fielded in Iraq. Since its inception, the Excalibur projectile has been dubbed “the round that will transform canon artillery.” Excalibur provides better than 10-meter accuracy, not available from any other artillery projectile. The projectile’s accuracy and increased effectiveness reduce the logistical burden for deployed ground forces. It also provides lower collateral damage through its concentrated fragmentation pattern, increased precision and near-vertical descent. General Dynamics Ordnance and Tactical Systems is a world leader in the manufacture of large, medium- and small-caliber direct and indirect-fire munitions, mortar weapons and systems, artillery projectiles, bomb bodies and Ball Powder® Propellant. The company also manufactures precision metal components; provides explosive load, assemble and pack services for a variety of munitions, tactical missile and rocket programs; and designs and produces shaped charge warheads and control actuator systems. This press release contains certain forward-looking statements that are based on management’s expectations, estimates, projections and assumptions. Words such as “expects,” “anticipates,” “plans,” “believes,” “estimates” and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Actual future results and trends may differ materially from what is forecast in forward-looking statements. |
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