General Dynamics Awarded $121 Million Order to Retrofit M1A2 Abrams Tanks
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), a $121 million delivery order as part of a contract valued at $244 million to retrofit 65 M1A2 Abrams tanks to the M1A2 SEP (System Enhancement Program) configuration.
The M1A2 SEP is the latest and most advanced configuration of the Abrams main battle tank. The tanks are being retrofitted to modernize the U.S. Army's 3rd Armored Cavalry Regiment.
Work will be performed with the existing workforce at General Dynamics' facilities in Lima, Ohio (74 percent); Tallahassee, Fla. (10 percent); Anniston, Ala. (9 percent); Scranton, Penn. (3 percent); Imperial Valley, Calif. (1 percent); Muskegon, Mich. (1 percent); and Sterling Heights, Mich. (1 percent). Work will also be done at Fort Carson, Colo. (1 percent).
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 68,400 people worldwide and anticipates 2004 revenue of $19 billion. The company is a market leader in mission-critical information systems and technologies; land and expeditionary combat systems, armaments and munitions; 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 - Friday, May 7, 2004
Press Contact: (586) 825-7930
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