Friday, May 30, 2008

General Dynamics Armament and Technical Products

By Mass High Tech Staff

General Dynamics Armament and Technical Products reports it has landed a $7.8 million extension to a previously won U.S. Navy contract to produce weapons systems for fighter jets.

Under the contract, the General Dynamics Corp. (NYSE:GD) unit will produce 20mm, automatic Gatling gun systems for use on F/A-18 jets at its Saco, Maine, facility. The program will be managed out of the company’s Burlington, Vt., facility, and the final deliveries will be made in the fourth quarter of this year.

The initial $10 million contract, awarded in July 2005, was followed by a $12.5 million contract extension in August 2006.

General Dynamics Armament and Technical Products, based in Charlotte, N.C., is a business unit of Falls Church, Va.-based General Dynamics. General Dynamics, which employs about 84,000 people, reported a 2007 net income of $2.1 billion on revenue of $27.2 billion.