General Dynamics gets $17M contract
General Dynamics gets $17 million contract to make gun systems
- On 3:40 pm EST, Tuesday November 3, 2009
CHARLOTTE, N.C. (AP) -- A division of General Dynamics Corp. received a $17 million contract to produce gun systems for two variants of a weapon system built by Raytheon Co.
The guns will be installed on two versions of the Phalanx, a fully autonomous, radar-directed, rapid-fire 20mm Gatling-gun system that provides naval ships a line of defense against anti-ship missiles, aircraft, and other threats.
Production will take place at General Dynamics' facility in Saco, Maine, while program managing will be performed at the company's Burlington, Vt., Technology Center. Testing will be conducted at the Ethan Allen Firing Range in Jericho, Vt.
Shares of General Dynamics fell 47 cents to $62.55 in afternoon trading.
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