General Dynamics Receives $230 Million in Awards for Tank Upgrades and Ammunition
FALLS CHURCH, Va. – General Dynamics (NYSE: GD) announced today that the company has received orders valued at more than $230 million for upgrading 240 M1A2 Abrams tanks for the U.S. Army, and to supply 150,000 rounds of training ammunition for use in Abrams tanks.
General Dynamics Land Systems, Sterling Heights, Mich., will upgrade the Abrams tanks, including installation of improved forward-looking infrared systems, new computer mass memory units, thermal management systems and color displays in a configuration called the System Enhancement Package (SEP). Materials and testing for auxiliary power units were also included in the contract. Work under the U.S. Army Tank–Automotive and Armaments Command (TACOM) contract, valued at $142 million, will be completed by December 31, 2001.
In addition, a contract for technical support for Abrams Systems valued at $16 million was also awarded to the company.
Through another award, General Dynamics Ordnance and Tactical Systems (formerly Primex Technologies) of St. Petersburg, Fla., will supply approximately 104,000 kinetic-energy and 46,000 high-explosive rounds of training ammunition. This contract is valued at $72 million; work will be completed by October 31, 2004.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 46,000 people and anticipates 2001 sales of approximately $11.5 billion. The company has leading market positions in business aviation, information systems, shipbuilding and marine systems, and land and amphibious combat systems.
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Any "forward-looking statements" contained in this press release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
General Dynamics Corporation (ticker: GD, exchange: NYSE)
News Release - Wednesday, February 14, 2001
Press Contact: (703) 876-3186
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