General Dynamics (ticker: GD, exchange: New York Stock Exchange (.N))
News Release -
General Dynamics Awarded $161 Million for M1A2 Tank Retrofit
STERLING HEIGHTS, Mich., Jan 28, 2005 /PRNewswire-FirstCall via COMTEX/ -- 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. More information
about the company can be found at http://www.generaldynamics.com.
SOURCE General Dynamics Land Systems
Rae A. Higgins of General Dynamics Land Systems, +1-586-825-4610, cell:
+1-586-864-5895, or firstname.lastname@example.org