News Release
GULFSTREAM PRESENCE IN ASIA-PACIFIC HEATS UP AS 10 BUSINESS JETS ARE SOLD IN REGION IN NINE MONTHS
Publicly Traded Company Purchases First Gulfstream Business Jet in China
SAVANNAH, Ga., Nov. 8, 2005 -- Gulfstream Aerospace, a wholly owned subsidiary of General Dynamics (NYSE: GD), has sold 10 business jets in the Asia-Pacific region since the beginning of 2005, including its first business jet - a Gulfstream G200 - in China.
“We’ve spent a decade cultivating business alliances in Asia and, based on recent sales activity in the region, it is obviously starting to pay dividends,” said Bryan Moss, president, Gulfstream. Our Asian customers appreciate the value and efficiencies that business jets bring to a company. They also recognize the value of the Gulfstream brand in terms of quality, reliability, performance, safety and product support.”
Since January 1, Gulfstream has sold seven new aircraft - five G550s, one G350 and one G200 - and three pre-owned business jets - two GIV-SPs and one GV - in the region. Gulfstream also participated in the first Asian Business Aviation Convention and Exhibition (ABACE) held in Shanghai, China, in August.
The G200 was purchased by Want Want Holdings, Ltd., producer of snacks and leisure foods, with headquarters in Shanghai. Want Want Holdings is the first company in China to purchase a Gulfstream business jet. A publicly traded company, Want Want Holdings maintains 60 factories and 30 subsidiaries in mainland China, Taiwan, Hong Kong, Singapore and Japan.
“In the 43 years we have been doing business, this was our first business-jet purchase,” Mr. Adams Lin, group vice president of Want Want Holdings, said. “We looked carefully at other business jets, but the G200 was the one that best met our company’s set of criteria. Working with Gulfstream on this significant acquisition was surprisingly easy.”
The two other Gulfstream aircraft based in Beijing - a GIV operated by Deer Jet Co., Ltd. and a GIV operated by Air China Business Jet - are registered in China under leasing agreements.
NOTE TO EDITORS
Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics (NYSE: GD), designs, develops, manufactures, markets, services and supports the world’s most technologically advanced business-jet aircraft. Gulfstream has produced more than 1,500 aircraft for customers around the world since 1958. To meet the diverse transportation needs of the future, Gulfstream offers a comprehensive fleet of aircraft, comprising the mid-cabin, high-speed Gulfstream G100™; the wide-cabin, high-speed Gulfstream G150™; the large-cabin, mid-range Gulfstream G200™; the large-cabin, mid-range Gulfstream G350™; the large-cabin, long-range G450™; the large-cabin, ultra-long-range Gulfstream G500™ and the large-cabin, ultra-long-range Gulfstream G550™. Gulfstream also offers aircraft ownership services via Gulfstream Financial Services Division and Gulfstream Pre-Owned Aircraft Sales®. The company employs more than 7,200 people at seven major 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 71,900 people worldwide and had 2004 revenue of $19.2 billion. The company is a market leader in mission-critical information systems and technologies; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and business aviation. More information about the company can be found at www.generaldynamics.com.
