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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.
News For GD From The Last 14 Days
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February 23, 2015
10:21 EDTGDGeneral Dynamics awarded $415M contract by US Army
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February 19, 2015
07:46 EDTGDAustralia opens bids for $8B armored vehicle defense contract, WSJ says
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February 17, 2015
12:49 EDTGDSpirit AeroSystems likely to collect some funds from Gulfstream,says Wells Fargo
After Spirit AeroSystems (SPR) disclosed in a February 13 regulatory filing that it had settled its dispute with General Dynamics' (GD) Gulfstream unit with respect to amounts due on G650 deliveries from 2010 through Q3 2013, Wells Fargo expects Spirit to collect some of the $135M that it held n retainage in accounts receivable for Gulfstream underpayments as of the end of last year. The firm says it cannot estimate the amount that Spirit will collect. It keeps an Outperform rating on Spirit.
10:01 EDTGDGeneral Dynamics awarded $50M for Abrams tank production
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