General Dynamics Awarded $7.2M 120mm Anti-Personnel Canister Cartridge Contract
ST. PETERSBURG, Fla. – General Dynamics Ordnance and Tactical Systems, a business unit of General Dynamics (NYSE: GD), has been awarded a contract valued at $7.2 million by the U.S Army TACOM-ARDEC, Picatinny Arsenal, N.J., for the Systems Development and Demonstration and delivery of qualification test samples for the XM1028 120mm tank fired, anti-personnel canister cartridge. The contract also contains options for Low Rate Initial Production and four additional production options for a total of approximately 28,000 cartridges.
The XM1028 cartridge is fired from the M1A1/M1A2 Abrams Main Battle Tank and is to be used at close range against massed assaulting infantry armed with hand held anti-tank and automatic weapons.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 54,000 people worldwide and anticipates 2002 revenues of approximately $14 billion. The company has leading market positions in land and amphibious combat systems, mission-critical information systems and technologies, shipbuilding and marine systems, and business aviation.
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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 - Tuesday, August 20, 2002
Press Contact: (727) 578-8144
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