News Release
GULFSTREAM CONSOLIDATES COMPLETIONS CENTERS
Completions Centers Reduced from Six to Five
Savannah, Ga., January 16, 2002 - Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics (NYSE: GD), will realign its aircraft completions work over the next three to six months, reducing its aircraft completions centers from six to five. Over the transition period, Gulfstream will end completions operations at its Alliance facility in Fort Worth, Texas, which was acquired in June 2001 when the company bought Galaxy Aerospace. Most of the 355 employees and 80 contractors at the Alliance facility will be laid off; those with key skills will be offered positions at Gulfstream's Dallas site or another company location. Alliance employees will be notified of their status by the end of April. The company is reviewing future use of the Alliance site.
"This decision is the result of several months of careful evaluation and analysis," said Bill Boisture, president and chief operating officer, Gulfstream Aerospace. "Given the 25 percent cycle time improvements we have realized over the past three years and the additional improvements we know can be achieved, we can now reduce the number of completions centers. This move will make maximum use of our facilities and further improve our efficiency."
Gulfstream Aerospace currently has a fleet of five aircraft: the Gulfstream 100, G200, GIV-SP, GV and GV-SP. Completions Centers for each aircraft are: Savannah, Ga. and Long Beach, Ca. for the GV-SP; Savannah, Ga., Brunswick Ga. and Long Beach, Ca. for the GV; Savannah, Ga., Brunswick, Ga., Appleton, WI. and Long Beach, Ca. for the GIV-SP and Love Field, Tx. for the Gulfstream 200. Completions for the Gulfstream 100 are currently contracted out to Duncan Aviation, Lincoln, Neb.
NOTE TO EDITORS
Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics, (NYSE: GD) designs, develops, manufactures, markets and services the world's most technologically advanced intercontinental business jet aircraft. Gulfstream has produced more than 1,300 aircraft for customers around the world since 1958. To meet the aviation needs of its customers, Gulfstream offers a full range of aircraft products and services, including the Gulfstream 100®, Gulfstream 200®, Gulfstream IV-SP®, the ultra-long range Gulfstream V® and Gulfstream V-SP®, Gulfstream Financial Services®, Gulfstream Lease®, Gulfstream Pre-Owned Aircraft Sales®, Gulfstream Charter Services®, Gulfstream Management Services® and Gulfstream ServiceCare®. The company employs some 8,300 people at eight locations. We invite you to visit our Web site for more information and photos of Gulfstream aircraft at www.gulfstream.com.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 52,000 people and anticipates 2001 sales of approximately $12 billion. The company has leading market positions in business aviation, information systems, shipbuilding and marine systems, and land and amphibious combat systems. More information about the company can be found at www.generaldynamics.com.
