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General Dynamics receives $203M Army contract

Thu, 12/03/2009 - 9:00am
The Associated Press

STERLING HEIGHTS, Mich. (AP) — General Dynamics Corp. said Thursday it has received a $203 million U.S. Army contract to design the next-generation Stryker armored combat vehicle.

The contract to General Dynamics Land Systems from the U.S. Army TACOM Lifecycle Management Command is for a modernization program that will increase the capabilities of the Stryker fleet.

The award continues the Stryker modernization program that was initially awarded to General Dynamics in 2008. Work will be done in Sterling Heights, Mich.

Under the contract, the Army and General Dynamics, based in Falls Church, Va., will develop designs and build a demonstrator to assess how to improve survivability, power, suspension, mobility and integrating new technologies.

The Army has seven Stryker brigade combat teams, with three in combat zones in Iraq and Afghanistan.

The Army announced an initial $42.6 million increment of the award on Nov. 25, General Dynamics said.

Shares of General Dynamics rose 35 cents to $67.44 in afternoon trading.

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