General Dynamics gets $244.5M contract |
|
|
|
Published
:
Mon, 30 Apr 2007 23:04
|
STERLING HEIGHTS, Mich. (AP) - Defense contractor General Dynamics Corp. said Monday it received a $244.5 million work order from Force Protection Industries Inc. to help provide 1,000 Mine Resistant Ambush Protected Vehicles.Ladson, S.C.-based Force Protection received a roughly $490 million delivery order on April 23 from the Navy to supply the vehicles. Both companies have formed a joint venture, Force Dynamics, that will produce all 1,000 vehicles and manage the MRAP contract.MRAP vehicles protect U.S. soldiers from mines, rocket-propelled grenades and improvised explosive devises and are currently used in operations in Iraq. A joint military program led by the U.S. Marine Corps is seeking to double the size of its new armored vehicle program to meet short-term combat needs. The Marines and Army want to buy 7,774 MRAP vehicles expected to cost $8.4 billion.Work will be performed in Anniston, Ala., Charlotte, Mich., Ladson, S.C., Lima, Ohio, Kings Point, N.C. and Sealy, Texas.Shares of General Dynamics fell $1.77, or 2.2 percent, to close at $78.50 on the New York Stock Exchange. Force Protection shares rose 35 cents to $22.05 in aftermarket trading, after falling $1.11, or 4.8 percent, to close at $21.70 on the Nasdaq Stock Market.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
Print this Story
BAE gets $7.2M General Dynamics contract 