Egypt to Continue M1A1 Co-production Program with General Dynamics
125 M1A1 Abrams tanks requested.
STERLING HEIGHTS, Mich. – The U.S. Army Tank-Automotive and Armaments Command has awarded General Dynamics Land Systems, a business unit of General Dynamics (NYSE: GD), an $8.4 million long-lead material contract to begin work on increment nine of an Egyptian co-production program. This increment calls for 125 M1A1 Abrams tanks, and will increase the number of Egyptian co-production built M1A1 Abrams tanks to 880 since the program began in 1992. The contract is estimated to be valued at $277 million when fully exercised. Deliveries begin in February 2005 and continue through June 2008.
General Dynamics provides Egypt with almost all of the materials used in production and many of the components, which are assembled into kits for shipment to Egypt.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 66,900 people worldwide and anticipates 2003 revenues of approximately $16.1 billion. The company has leading market positions in mission-critical information systems and technologies, land and amphibious combat systems, 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 - Thursday, December 11, 2003
Press Contact: (586) 825-7980
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