General Dynamics Awarded $42 Million by U.S. Army for Saudi Arabia Work

Falls Church-based General Dynamics' (NYSE: GD)  Land Systems Unit said it won two combined contracts to conduct work on behalf of the Royal Saudi Land Forces.

The contracts -- awarded by the U.S. Army TACOM Lifecycle Management Command -- is a continuation of a plan to upgrade the entire fleet of Abrams tanks for the Kingdom of Saudi Arabia.

General Dynamics Land Systems unit based in Sterling Heights, Michigan will be responsible for providing labor and materials to convert 102 M1A2 tanks to M1A2s design to increase efficiency and ability. The actual work will be completed by employees at the Joint Systems Manufacturing Center in Lima, Ohio.

60 of the tank conversions are set to be completed by August 30, 2012 and 42 by September 30, 2012.

The two contracts are worth $12.6 Million and $29.8 Million with a combined value of up to $42.4 Million.

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