General Dynamics Wins $132.7 Million Saudi Tank Contract

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

On Tuesday, General Dynamics (NYSE: GD  ) announced it has won a $132.7 million contract to supply Saudi Arabia with 69 Saudi-version Abrams main battle tanks, designated the M1A2S. According to a press release General Dynamics issued on the matter, this sale, awarded by the U.S. Army TACOM Life Cycle Management Command, builds on work begun in 2008, whereby General Dynamics has been upgrading the kingdom's fleet of M1A1 and M1A2 tanks to the M1A2S configuration preferred by the Saudis.

General Dynamics estimates that work on the new contract will be complete by July 31, 2014.

Shares of General Dynamics declined 2% in Tuesday trading, closing at $70.41.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2185978, ~/Articles/ArticleHandler.aspx, 11/30/2015 4:22:22 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Rich Smith

I love things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

Today's Market

updated Moments ago Sponsored by:
DOW 17,719.92 -78.57 -0.44%
S&P 500 2,080.41 -9.70 -0.46%
NASD 5,108.67 -18.86 -0.37%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

11/30/2015 4:05 PM
GD $146.46 Up +0.90 +0.62%
General Dynamics CAPS Rating: ****