General Dynamics Awarded $42 Million for Abrams Integrated Management Work
STERLING HEIGHTS, Mich. – The U.S. Army TACOM Life Cycle Management Command has awarded General Dynamics Land Systems, a business unit of General Dynamics (NYSE: GD), two contract modifications associated with the Abrams Integrated Management (AIM) tank program. The combined potential value of both contracts is $41.8 million if all options are exercised.
The first modification, valued at $25.9 million, covers the labor associated with the production of 92 M1A1 AIM tanks for the U.S. Army between July 2006 and July 2007. The second contract modification, for $15.9 million, is for long-lead materials required to begin delivery in July 2007 of up to 100 additional M1A1 AIM tanks.
AIM is a joint program to refurbish M1A1 Abrams main battle tanks. M1A1 Abrams tanks are completely disassembled and overhauled to a like-new, “zero-mile, zero-hour” condition. The refurbished M1A1 AIM tanks incur lower operational and support costs and report higher operational readiness rates. AIM is a joint program involving the U.S. Army Project Manager for the Heavy Brigade Combat Team; the TACOM Life Cycle Management Command; the Anniston Army Depot, Anniston, Ala.; and General Dynamics Land Systems.
Work will be performed by existing General Dynamics employees in Tallahassee, Fla.; Sterling Heights, Mich.; Lima, Ohio; and Eynon and Scranton, Pa.
General Dynamics, headquartered in Falls Church, Va., employs approximately 72,200 people worldwide and had 2005 revenue of $21.2 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 - Monday, March 20, 2006
Press Contact: (586) 825-4610
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