Press release from PR Newswire
General Dynamics Acquires Applied Physical Sciences Corp.
Friday, December 21, 2012
General Dynamics Acquires Applied Physical Sciences Corp.17:20 EST Friday, December 21, 2012FALLS CHURCH, Va., Dec. 21, 2012 /PRNewswire/ -- General Dynamics (NYSE: GD) today acquired Applied Physical Sciences Corp. of Groton, Conn., in a cash transaction for an undisclosed price. Applied Physical Sciences is a leading provider of applied research and development services, and will complement the engineering programs of General Dynamics Electric Boat, a wholly owned subsidiary of General Dynamics.Applied Physical Sciences offers research, development, engineering and prototyping services to government and commercial customers in the areas of acoustics, signal processing, marine hydrodynamics and electromagnetics. It is an industry leader in the fields of directional underwater transducers, maritime and ISR (intelligence, surveillance and reconnaissance) sensing and communication systems, and special purpose underwater devices for government laboratories, universities and industry. The company has 95 employees.Kevin J. Poitras, president of General Dynamics Electric Boat, said, "This acquisition enhances Electric Boat's ability to respond to emerging submarine requirements using the engineering knowledge and rapid-prototyping capabilities of Applied Physical Sciences, and gives the talented professionals at Applied Physical Sciences additional insight into the needs of the U.S. submarine fleet.""The greatest beneficiary of this acquisition will be the U.S. Navy, which will get more capable submarines to use in maintaining its global undersea dominance," Poitras said.Charles N. Corrado, president of Applied Physical Sciences, said, "Our new relationship with General Dynamics and Electric Boat will greatly enhance our ability to transition systems to the submarine fleet. We are excited about the new opportunities this will provide to have a real impact on U.S. Navy capabilities, and to grow the company."Applied Physical Sciences' headquarters and manufacturing facility are located in Groton. It also has offices in Lexington, Mass.; Arlington and Suffolk, Va.; and San Diego.General Dynamics Electric Boat designs, constructs and provides life cycle support for U.S. Navy nuclear submarines.More information about General Dynamics is available online at www.gd.com.SOURCE General DynamicsFor further information: Media, Rob Doolittle, +1-703-876-3199, email@example.com, or Investors, Amy Gilliland, +1-703-876-3748, firstname.lastname@example.org