KINGSBURY RECEIVES BEARING CONTRACT FOR LAST OF NIMITZ-CLASS AIRCRAFT CARRIERS

PHILADELPHIA, PA, July 16, 2001 - Kingsbury, Inc. has received contracts from Newport News Shipbuilding in Newport News, VA, to supply auxiliary thrust and line shaft bearings for the soon-to-be-constructed U.S. Navy CVN 77 Nimitz-class aircraft carrier. Renowned for the high quality of its products, Kingsbury has provided bearings for critical U.S. Navy applications for the last eighty years. The Newport News and the Navy had also selected Kingsbury for the line shaft and auxiliary bearings used for all of the previous Nimitz-class carriers. The latest contract calls for Kingsbury to provide two 46-in. diameter thrust bearings for the auxiliary thrust load and 14 propulsion line shaft bearings measuring 23.5-in. diameter x 27.75-in. long. Line shaft bearing housings are included in Kingsbury's scope of supply. The gearbox manufacturer has also selected Kingsbury for the 54-in. diameter main reduction gear thrust bearings that are an integral part of the ship's propulsion system. The as yet unnamed CVN 77 aircraft carrier is the last Nimitz-class ship to be built, based on the current Navy projections. It is scheduled to be commissioned in 2008. The next generation aircraft carrier will be based on the Nimitz design but with significant technological improvements, including the propulsion and transmission systems.