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Print Edition StoriesGreystone Corp. reports it has landed a three-year contract to produce “green ammunition.”
Under the deal, the Providence, R.I.-based company will produce the ammunition for American Rhienmetall Munitions, the Virginia-based U.S. division of Rheinmetall Defence, a German defense contractor. Financial terms of the deal were not disclosed.
The deal was a partial result of a loan from the Rhode Island Economic Development Corp., which allowed Greystone to expand into the defense and aerospace industries.
The ammunition, the 40 mm Mk281, is used primarily by the U.S. Marine Corps, but is also used by the U.S. Army for training, according to Greystone. The cartridge is used for fire and maneuver training, and it allows soldiers to train in dry summer months when range restrictions prohibit the use of the Army’s M918 pyrotechnic spotting cartridge.
Founded in 1932, Greystone also has a facility in Lincoln, R.I., as well as in Virginia.
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