Yahoo Finance General Dynamics Land Systems awarded Canadian Logistics Vehicle Modernization contract
Contracts totaling $2.58 billion Canadian ($1.88 billion U.S.) awarded to GDLS and partner
LONDON, ON, June 7, 2024 /PRNewswire/ -- General Dynamics Land Systems (GDLS), a business unit of General Dynamics (NYSE:GD), has been awarded a contract along with joint venture partner Marshall Canada to provide the Canadian Armed Forces (CAF) a new fleet of light and heavy logistics vehicles.
GDLS and Marshall Canada will deliver more than 1,000 light trucks and approximately 500 heavy trucks with associated equipment, such as armored protection kits, modules, containers and trailers.
The Logistics Vehicle Modernization (LVM) project is being awarded as two contracts: one for vehicle acquisition, valued at $1.5 billion CAD ($1.1 billion USD), and one for in-service support, valued up to $1.08 billion CAD ($790 million USD) over 25 years. Both figures include taxes. General Dynamics Land Systems will be responsible for integration and support services throughout the life of the LVM project and is joined by a team that includes Marshall Canada, Mercedes‐Benz (Daimler Trucks), Soframe, and Manac, Inc.
"Collaboration with our global customers and industry brings the most capable solutions to soldiers, and this power team is designed to deliver unique and reliable capability," said Dave Paddock, president of General Dynamics Land Systems. "We are known for our innovative engineering, extensive manufacturing and integration capability, and unparalleled customer support. We look forward to delivering the LVM capability to the Canadian Army."
General Dynamics Land Systems-Canada employs approximately 1,800 people in London, Ontario, specializing in the design, manufacture and support of light- and medium-armored vehicles. It is part of Michigan-based General Dynamics Land Systems, which provides design, engineering, technology, production and full life-cycle support for land combat vehicles around the globe. More information about Land Systems–Canada is available at www.gdlscanada.com.
More information about General Dynamics Land Systems is available at www.gdls.com.
General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people across 65 countries worldwide and generated $42.3 billion in revenue in 2023. More information about General Dynamics is available at www.gd.com.
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SOURCE General Dynamics
