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FOR IMMEDIATE RELEASE
- United Defense Industries, Inc. (NYSE: UDI) announced today
the U.S. Navy’s contract award to the Norfolk, VA shipyard,
NORSHIPCO, for the topside phased-maintenance, fixed-price availability
work on the dock landing amphibious-class ship USS WHIDBEY ISLAND
(LSD-41), the lead ship in its class home-ported in Norfolk. NORSHIPCO
is a member of United States Marine Repair, Inc. (USMR), a subsidiary
of United Defense.
The basic award of the contract is valued at
$12.2 million and with funded options, the total contract value
would be in excess of $14 million. The ship is scheduled to arrive
at NORSHIPCO on September 9, 2002. Work is expected to be completed
on February 10, 2003. NORSHIPCO performed a similar availability
on the WHIDBEY ISLAND in 1999. This availability will be the third
dock landing vessel job performed at the shipyard this year.
According to Tom Epley, NORSHIPCO’s president
and general manager, "Our expertise and record of outstanding
past performance on this class of ships, along with the skill
and knowledge of our subcontractors, provides the very best value
to the U.S. Navy. "
Major work includes diesel engine overhauls
and ballast tank repairs and preservation. Over 120 NORSHIPCO
workers a day will be assigned to the ship. The primary mission
of the USS WHIDBEY ISLAND is to transport Marines and combat cargo
in a land assault scenario utilizing air cushion landing craft,
which are berthed in the well deck area. The ship’s crew
consists of 21 officers and 289 enlisted personnel.
NORSHIPCO is a member of United States Marine
Repair (USMR), a wholly owned subsidiary of United Defense Industries,
with facilities in San Diego, San Pedro and San Francisco, Calif.;
Norfolk, Va.; Ingleside, Texas and Pearl Harbor, Hawaii.
United Defense is a leader in the design, development
and production of combat vehicles, artillery, naval guns, missile
launchers and precision munitions used by the U.S. Department
of Defense and allies worldwide and is America's largest non-nuclear
ship repair, modernization and conversion company. To learn more
about United Defense, visit www.uniteddefense.com.
Information in this release may involve guidance, expectations,
beliefs, plans, intentions or strategies regarding the future.
These forward-looking statements involve risks and uncertainties.
All forward-looking statements included in this release are based
upon information available to United Defense Industries, Inc.,
as of the date
of the release, and we assume no obligation to update any such
forward-looking statements. The statements in this release are
not guarantees of future performance and actual results could
differ materially from our current expectations. Numerous factors
could cause or contribute to such differences. Please refer to
the Company's registration statement dated December 13, 2001 on
Form S-1 and in our other reports filed from time to time with
the Securities and Exchange Commission for a further discussion
of the factors and risks associated with our business.
Doug Coffey
United Defense
(703) 312-6121
Jackie Kreisler
Southwest Marine
(619) 557-4289
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