General Dynamics Awarded $42M Army Contracts
STERLING HEIGHTS, Mich. (AP) — General Dynamics Corp.'s land systems unit has been awarded two contracts to provide tank work for Saudi Arabia with a combined value of $42.4 million.
The contracts were awarded by the U.S. Army on behalf of the Royal Saudi Land Forces. This work is part of a plan by Saudi Arabia to upgrade its fleet of 314 Abrams tanks.
The work will be performed at the Joint Systems Manufacturing Center in Lima, Ohio.
The contract continues work started in 2008.
General Dynamics' shares rose 67 cents to $61.85 in midday trading.