General Dynamics (NYSE:GD) is reordering its ranks.
On Monday, the nation's biggest ground forces-weapons maker announced that it has decided to merge its Armament and Technical Products business into its Ordnance and Tactical Systems unit. The former business specializes in building guns; the latter, ammo. Both lines of business will continue to be run under the aegis of General Dynamics' Combat Systems division, the company's second largest by revenues.
Company Executive Vice President for Combat Systems Mark Roualet explained that "consolidation is the best way to maintain the competitiveness and profitability of these lines of business." The company hopes, by merging them, to create "greater efficiencies in operations and ... more opportunities for growth."
Michael Wilson, currently President of Ordnance and Tactical Systems, will run the combined unit out of its headquarters in St. Petersburg, Fla.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Dynamics. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.