General Dynamics to acquire GM Defense for $1.1B
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Manufacturing News, Source : TheManufacturer.com
Published : 20 Dec 2002 18:37
General Dynamics, a global leader in defense technology, has announced plans to buy GM Defense for $1.1 billion.
A division of General Motors Corporation, GM Defense manufactures wheeled armored vehicles and turrets. In collaboration with General Dynamics, GM Defense has been producing Stryker, the US Army’s transformational combat vehicle.
“GM Defense has been our valued partner on Stryker,” said Nicholas Chabraja, General Dynamics CEO. “This is a company with a strong management team and an experienced workforce. It has important vehicle technology, high-quality products, and an established world-wide customer base. The acquisition will enable us to be increasingly responsive to our US, Canadian, and world-wide customer and creates synergy in the development of new technology.”
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