General Dynamics Awarded $161 Million for M1A2 Tank Retrofit
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 $161 million modification as part of a $283 million contract to retrofit 129 M1A2 Abrams tanks with an enhanced electronics package. The retrofitted tanks will modernize the U.S. Army’s 3rd Armored Cavalry Regiment, Fort Carson, Colo.
The M1A2 is the latest, most technologically advanced Abrams tank, entering service in 1993. It is replacing 20-year-old M1A1-configuration tanks which began service in the 1980s. This retrofit is part of the overall M1A2 tank upgrade program that integrates new technologies to improve soldier warfighting capability with enhanced digital command and control features like color maps and displays, computer memory, processing speed and communications.
In May 2004 the U.S. Army awarded General Dynamics a $121 million contract to retrofit 65 of the unit’s M1A2 tanks. This modification rounds out the contract to modernize the unit’s entire 129-tank fleet.
Work will be performed in Lima, Ohio, Tallahassee, Fla., Scranton, Pa., Muskegon, Mich., and Anniston, Ala., by existing General Dynamics employees.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 70,200 people worldwide and had 2004 revenue of $19.2 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, January 28, 2005
Press Contact: (586) 825-4610
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