General Dynamics Buys New Business
Defense contractor General Dynamics (GD) completed the acquisition of the Scranton, Pa., operation of Chamberlain Manufacturing, a unit of Duchossois Industries.
Plans for the acquisition were announced in May. Financial terms weren't disclosed, but General Dynamics said the acquisition will immediately add to its earnings.
Shares of General Dynamics, Falls Church, Va., slipped 5 cents to $66.95.
The business, which will be known as General Dynamics Ordnance and Tactical Systems-Scranton Operations, has around 400 employees and supplies large-caliber projectile metal parts to the U.S. government.Duchossois is a privately held, Illinois-based diversified company with interests in access control, advanced control and automation and entertainment.
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