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News Breaks
April 2, 2013
11:31 EDTGDGeneral Dynamics unit awarded $40M contract modification
General Dynamics Land Systems has been awarded an additional $40M for the procurement and production of Saudi M1A2 (M1A2S) Abrams tanks for the Kingdom of Saudi Arabia. This modification is part of an existing contract to upgrade the Kingdom of Saudi Arabia's fleet of tanks. The Foreign Military Sales contract was awarded by the U.S. Army TACOM Life Cycle Management Command on behalf of the Royal Saudi Land Forces. This contract extends work started in 2008 to update M1A1 and M1A2 tanks to the M1A2S configuration for the Kingdom of Saudi Arabia. The M1A2S conversion increases the efficiency and capability of the tank. The work will be performed by current employees at the Joint Systems Manufacturing Center in Lima, Ohio, with an estimated completion date of July 31, 2014.
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June 29, 2015
07:22 EDTGDBWX Technologies would be M&A fit for Huntington Ingalls, says Deutsche Bank
Deutsche Bank noted that the planned spin-off of BWX Technologies (BWXT) from Babcock & Wilcox (BWC) is scheduled to be completed this week on July 1, stating that it believes the spun off company is likely to attract the attention of strategic players such as Huntington Ingalls (HII) and General Dynamics (GD). The firm thinks the potential M&A fit looks "most striking" for Huntington and estimates that a deal multiple could reach 10-11X the about $300M in EBITDA at BWX Technologies, which would likely be "worth the stretch" for the shipbuilder.
June 26, 2015
07:26 EDTGDSRA International exploring sale or IPO, Reuters reports
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June 24, 2015
10:00 EDTGDGeneral Dynamics receives $219M order for US Army's WIN-T increment 2 systems
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