This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

General Dynamics To Consolidate Two Combat Systems Businesses

FALLS CHURCH, Va., July 15, 2013 /PRNewswire/ -- General Dynamics (NYSE: GD) announced today that, following a comprehensive review of the structure of its Combat Systems business group, General Dynamics Armament and Technical Products will be consolidated into General Dynamics Ordnance and Tactical Systems.

Mark C. Roualet, executive vice president of the Combat Systems group for General Dynamics, said, "In the face of changing demand in some of our markets and increasing competition across the board, we have determined that consolidation is the best way to maintain the competitiveness and profitability of these lines of business. This move will enable us to achieve greater efficiencies in operations and create more opportunities for growth.

"We remain committed to meeting the needs of our customers in each of the markets served by General Dynamics, and we believe this restructuring will improve the value of the products we deliver and the agility with which we respond to customers' changing requirements."

Michael S. Wilson, president of General Dynamics Ordnance and Tactical Systems, will lead the combined organization.  The company's headquarters will be in St. Petersburg, Fla.  The consolidation will result in the closing of the Charlotte, N.C., headquarters of General Dynamics Armament and Technical Products by the end of 2013.

General Dynamics Armament and Technical Products designs, develops and produces market-leading weapon, armament and vehicle survivability systems for the U.S. military and its allies; high-performance composite structures for the commercial, aerospace and defense markets; and a wide range of axles, suspension systems and components for commercial trucks, military vehicles and industrial off-highway machines. The company employs approximately 2,500 workers at facilities in 10 states and several non-U.S. locations.

General Dynamics Ordnance and Tactical Systems is a leading manufacturer of large, medium- and small-caliber munitions, mortar weapons and systems, artillery projectiles, bomb bodies, propellants, non-lethal and force-protection products. The company also manufactures precision metal components; provides explosive load, assemble and pack services for a variety of munitions, tactical missile and rocket programs; and designs and produces shaped charge warheads and control actuator systems.  The company employs approximately 3,500 workers in the U.S. and Canada.

More information about General Dynamics is available at www.generaldynamics.com.

 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,276.15 +143.45 0.79%
S&P 500 2,114.91 +10.41 0.49%
NASDAQ 5,001.2030 +37.6760 0.76%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs