GULFSTREAM INCREASES PARTS AND MATERIALS SUPPORT IN EUROPE

More Than $100 Million In Inventory Moved To New Facilities In Luton And Madrid

SAVANNAH, Ga., May 16, 2011 - Gulfstream Aerospace Corp. has added two new European warehouses to its growing product support network, increasing parts and materials on the continent to approximately $110 million. This investment allows for faster, more cost-effective distribution to Gulfstream’s growing international-based fleet.

"We are putting more parts and people overseas to support our growing international customer base," said Mark Burns, president, Gulfstream Product Support. "We want our international operators to continue getting replacement parts as quickly as possible. These new facilities give us even better access to logistic suppliers and courier services, so we can keep our commitment to providing the right parts, at the right place, at the right time, with the right documentation."

At approximately 8,000 square feet (743 square meters), Gulfstream’s new facility at Madrid Barajas Airport in Spain is larger than the company’s previous warehouse, which was also operated by Corjet Europe, a Gulfstream authorized warranty repair site. The parts depot, which holds nearly $65 million in Gulfstream parts, accommodates large items such as landing gear and windshields, and has 2,500 square feet (232 square meters) of climate-controlled space to store perishables, including batteries.

"We are right across the street from the Iberia and Lufthansa airline terminals and within walking distance of FedEx, so items leave here very quickly," said Dirk Baber, a 24-year Gulfstream employee, the on-site manager. "We also have the ability to hand-deliver parts in Europe with our delivery vehicle or by using Iberia."

Gulfstream’s new Luton, England, warehouse is approximately 10,000 square feet (930 square meters) and complements the 2,000 square feet (186 square meters) of existing space that site personnel use for parts inventory in the nearby service center hangars. Since 2010, Luton’s inventory has increased from $25 million to approximately $40 million.

"We are excited about our new capabilities," said Ian Whitehead, Luton’s parts and materials manager. "Some American operators who come to Luton in transit don’t realize we have over-the-counter sales. Our expanded space will better serve all our customers."

Gulfstream’s Madrid and Luton facilities can ship parts anywhere in Europe or the Middle East within 24 hours and offer a 24-hour call-in number for customers who need parts support.

Gulfstream also has approximately $9 million in parts and materials at the Jet Aviation facility in Basel, Switzerland. Gulfstream and Jet Aviation are wholly owned subsidiaries of General Dynamics.

Worldwide, Gulfstream has $1.2 billion worth of parts and materials available through 16 distribution centers.

 

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 1,900 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 wide-cabin, high-speed Gulfstream G150®; the large-cabin, mid-range Gulfstream G200®; the new large-cabin, mid-range Gulfstream G250®; the large-cabin, mid-range Gulfstream G350®; the large-cabin, long-range Gulfstream G450®; the large-cabin, ultra-long-range Gulfstream G500®; the large-cabin, ultra-long-range Gulfstream G550® and the ultra-large-cabin, ultra-long-range G650®. Gulfstream also offers aircraft ownership services via Gulfstream Pre-Owned Aircraft Sales®. The company employs more than 10,000 people at 10 major locations. We invite you to visit our website for more information and photos of Gulfstream aircraft at www.gulfstream.com.

General Dynamics, headquartered in Falls Church, Virginia, employs approximately 90,000 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available on the Internet at www.generaldynamics.com.