General Dynamics wins $198M contract for tanks

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STERLING HEIGHTS, Mich. (AP) — General Dynamics Corp. said one of its business units has won a $198 million contract from the U.S. Army Tank and Automotive Command to build 140 tanks for Iraq.

The contract was awarded to General Dynamics Land Systems for M1A1 situational awareness tanks. Enhancements to the tank include a second-generation forward-looking infrared thermal sight, a vision-enhancer thermal viewer and improvements for protection in urban warfare.

The tanks will be built in Lima, Ohio; Scranton, Pa.; Anniston, Ala.; and Tallahassee, Fla.

General Dynamics is based in Falls Church, Va. Its shares rose $1.02 to $69.19 on Monday.