General Dynamics Awarded $23 Million Modification to Previously Awarded Canadian LAV III Contract
LONDON, Ontario, Canada – The Canadian Department of National Defence has awarded a $22.85 million CAD ( approx. $17.36 million USD) modification to a previously awarded contract for LAV III vehicles to General Dynamics Land Systems – Canada.
Under this contract modification, General Dynamics Land Systems – Canada will manufacture 33 LAV III TOW Under Armour vehicles equipped with refurbished and upgraded Kvaerner Eureka Armoured Launching Turrets. TOW is a Tube-launched Optically-tracked Wire-guided anti-tank missile used by the Canadian forces to defeat tanks and armored vehicles. The under armour system allows the soldier to track targets and fire the TOW missile from inside the LAV III where he is protected from bullets and shrapnel. Deliveries will take place between September 2005 and May 2006.
General Dynamics Land Systems – Canada, located in London, Ontario, Canada is a business unit of General Dynamics Land Systems of Sterling Heights, Michigan. For more than 25 years, approximately 1500 highly skilled technical personnel design, manufacture and deliver a unique family of light armoured vehicles (LAV). More information on the company is available at www.gdlscanada.com.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 69,400 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; 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 - Monday, August 23, 2004
Press Contact: (519) 964-5813
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