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General Dynamics (GD) Receives Light Armored Vehicles Contract From U.S. Marine Corps

 January 15, 2013 02:21 PM

(By Balaseshan) General Dynamics Corp. (NYSE: GD) said its business unit has received a contract worth $24 million to produce 13 Light Armored Vehicles (LAV-A2) for the U.S. Marine Corps.

General Dynamics Land Systems-Canada said the LAV-A2 is a mobile, survivable and lethal system for conducting security, reconnaissance, offensive and defensive operations as part of the Marine Air-Ground Task Force.

The first delivery is scheduled for June 2014 and the last delivery will be made in October 2014.

The eight-wheeled vehicle operates on land and water. It is equipped with enhanced armor protection and an automatic fire-suppression system for crew protection, as well as a robust suspension for mobility, the company noted.

[Related -Northrop Grumman Corporation: How Defense Budget Will Fare In 2014?]

The contract was awarded through the Canadian Commercial Corp., a Crown Agency of the Canadian Government.

On January 10, the Colombian Ministry of National Defence has awarded a contract worth $65.3 million to General Dynamics Land Systems-Canada for 24 Light Armoured Vehicles (LAVs) for the Colombian Army.

On January 8, General Dynamics Land Systems has been awarded $132.7 million for the procurement and production of 69 Saudi M1A2 (M1A2S) Abrams tanks for the Kingdom of Saudi Arabia. This work is part of a plan by the Kingdom of Saudi Arabia to upgrade its fleet of tanks.

GD is trading up 0.44% at $70.66 on Tuesday. The stock has been trading between $61.09 and $74.54 for the past 52 weeks.

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