General Dynamics Corporation GD business unit, General Dynamics Ordnance and Tactical Systems, won an initial task contract worth $218 million for 155mm M1128 Load, Assemble and Pack.
The U.S. Army contract, awarded to OTS and another company under a $974 million multi-year firm-fixed-price U.S. Army contract, includes funding for M1128 facilitation and production at OTS's operations in Camden, Arkansas.
This contract will support the installation of an LAP facility via modernized processes and air-cooling technology to enhance the quality and efficiency of the artillery LAP process.
In February this year, OTS bagged a similar order for M795 LAP facilitation of 20,000 monthly rounds.
By 2025, both transactions will support 50,000 rounds per month of new LAP capacity.
3 billion.
price action: GD shares are trading lower at $222.63 per share on Tuesday, down 0.03% from the previous close of $222.63.