News Release
GULFSTREAM TO CLOSE OKLAHOMA FACILITY
Work will go to existing Gulfstream facilities
Savannah, Ga, February 6, 2002 - Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics (NYSE: GD), will close its Oklahoma facility and relocate the work to existing Gulfstream facilities. Some 350 people currently employed in Oklahoma, of whom approximately 250 are union members and 100 are salaried employees, will be affected. Actions to close the Oklahoma plant will take place in a phased program starting in early April with complete closing expected by year-end.
"Following an extensive review of our 50-year-old facilities in Oklahoma, we determined that the sheet metal and Gulfstream IV-SP vertical fin assembly work carried out there could be performed more cost effectively in our more modern facilities," said Bill Boisture, president and chief operating officer, Gulfstream Aerospace. "We are continually seeking ways to remain competitive and become more efficient."
Gulfstream acquired the Oklahoma plant in 1981 and since 1987 has leased it from the local Airport Trust Authority. Gulfstream will work closely with the Airport Trust to help identify potential tenants to lease the buildings.
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.
