General Dynamics Wins $132.7 Million Saudi Tank Contract

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On Tuesday, General Dynamicsannounced it has won a $132.7 million contract to supply Saudi Arabia with 69 Saudi-version Abrams main battle tanks, designated the M1A2S. According to a press release General Dynamics issued on the matter, this sale, awarded by the U.S. Army TACOM Life Cycle Management Command, builds on work begun in 2008, whereby General Dynamics has been upgrading the kingdom's fleet of M1A1 and M1A2 tanks to the M1A2S configuration preferred by the Saudis.

General Dynamics estimates that work on the new contract will be complete by July 31, 2014.

Shares of General Dynamics declined 2% in Tuesday trading, closing at $70.41.

The article General Dynamics Wins $132.7 Million Saudi Tank Contract originally appeared on Fool.com.

Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Dynamics. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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