Press release from PR Newswire
General Dynamics to Consolidate Two Combat Systems Businesses
Monday, July 15, 2013
General Dynamics to Consolidate Two Combat Systems Businesses12:00 EDT Monday, July 15, 2013
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.
SOURCE General Dynamics
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