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FINANCIAL NEWS
US General Dynamic signs USD42.2m Saudi tanks deals
19 Aug 2011
(MENAFN) US General Dynamic Land Systems said that it signed two tank deals worth USD42.4 million with the Royal Saudi Land Forces, reported Arabian Business.
The company added that the contracts came as Saudi sought to improve its Abrams tanks fleet, where General Dynamics would supply the Saudi division with materials and labor in order to renovate its 102 M1A2 tanks to an M1A2s design.
It also said that the new design would enhance the tank’s efficiency and capability, moreover, in August of next year, the company would finish the conversion of 60 tanks whereas the other 42 would be expected to complete by the end of September.
It is worth noting that the first contract’s value is USD12.6 million, while the other is USD29.8 million.
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