Port Security Conference

May 14, 2003

NORSHIPCO buys Metro's Old Dominion dock
United Defense Industries, Inc. today announced an agreement between NORSHIPCO, its Norfolk, Va., shipyard, and Metro Machine Corp. to purchase Metro's 14,000-ton floating dry dock known as "Old Dominion."

The floating dock, expected to be operational by the end of May, will be relocated to NORSHIPCO and placed in an area previously occupied by a similar size dock that was retired two years ago.

The agreement provides additional opportunities for the exchange of work and dry dock utilization.

United Defense says acquisition of the dock positions NORSHIPCO as a stronger competitor in the U.S. Navy, Military Sealift Command (MSC), and commercial ship repair markets. The added dry dock capacity affords NORSHIPCO the opportunity to pursue additional areas of work, which could lead to more level-loading of the yard's workforce.

Addition of "Old Dominion" to NORSHIPCO's existing drydocking capabilities--which include the 950-ft TITAN dock, with displacement capacity of 52,000 tons--also allows the company to service nearly all of the U.S. Navy's non-nuclear ships and a significant number of the world's commercially operated vessels.

NORSHIPCO is a member of the United States Marine Repair (USMR) family of shipyards, a wholly owned subsidiary of United Defense. In addition to its headquarters in Norfolk, Va., USMR facilities are located in San Diego, San Pedro and San Francisco, Calif.; Ingleside, Texas; Pearl Harbor, Hawaii; and Mayport, Fla.

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