Business

August 29, 2012

General Dynamics acquires Gayston Corporation’s defense operations

General Dynamics has acquired the defense operations of Gayston Corporation, a privately held company that supplies precision metal components used in several munitions programs.

The value of the cash transaction, which General Dynamics expects to be accretive to earnings in 2013, has not been disclosed.

Gayston’s defense operations employ 187 people at a state-of-the-art facility in Springboro, Ohio, which is optimized for aluminum impact extrusion manufacturing. Among its products, Gayston manufactures rocket motor tubes for the U.S. Army’s Hydra-70 air-to-ground rocket program. It also provides liners and cartridges for 40mm ammunition rounds and components for 60-120mm mortar rounds to a variety of customers.

The defense operations of Gayston will become part of Charlotte, N.C.-based General Dynamics Armament and Technical Products, a leading provider of high-performance weapon and armament systems, composite products and heavy-duty off-road axle and suspension systems to the U.S. military, allied forces and commercial customers.

“The acquisition of Gayston’s defense operations expands our critical manufacturing capability to cost-efficiently produce high-precision parts in large quantities,” said Michael J. Mulligan, president of General Dynamics Armament and Technical Products. “The acquisition also provides us with more opportunities to participate in high-performance weapon system programs.”




All of this week's top headlines to your email every Friday.


 
 

 

Northrop Grumman awarded mission support services contract

The U.S. Army awarded Northrop Grumman a cost-plus-fixed-fee contract, with a potential value of $205 million, to continue providing mission logistics services in support of combat brigades training at the National Training Center in Fort Irwin, Calif. The contract covers one base year and two one-year options. Support will include the full range of mission...
 
 

Lockheed Martin completes operational flight tests of GMLRS alternative warhead

DALLAS, July 28, 2014 /PRNewswire/ –†Lockheed Martin has successfully completed all Developmental Test/Operational Test flight tests for the new Guided Multiple Launch Rocket System Alternative Warhead at White Sands Missile Range, N.M. The DT/OT tests included rockets fired at both mid and long range. All rockets were fired from a High Mobility Artillery Rocket System...
 
 
lm-kmax

Lockheed Martin’s unmanned cargo helicopter team returns from deployment

After lifting more than 4.5 million pounds of cargo and conducting thousands of delivery missions for the U.S. Marine Corps, the Lockheed Martin and Kaman Aerospace Corporation K-MAX cargo unmanned aircraft system has returned ...
 

 

SPEEA files age discrimination charge against Boeing

After months of investigation, the Society of Professional Engineering Employees in Aerospace, IFPTE Local 2001, charged Boeing with age discrimination. Acting on behalf of SPEEA-represented engineers, the union filed the third-party charges July 23 with the Equal Employment Opportunity Commission and the Washington State Human Rights Commission. The evidence is overwhelming that Boeing hatched...
 
 

Commercial jets push Boeing profits up 52 percent

Increased production of passenger jets helped push up Boeing’s profit by 52 percent in the second quarter, topping Wall Street’s expectations. The Chicago-based company said net income increased to $1.65 billion, or $2.24 per share, from $1.09 billion, or $1.41 per share, in the same quarter a year ago. Earnings, adjusted for non-recurring costs, came...
 
 

Comprehensive MEADS network tests demonstrate unmatched plug-and-fight missile defense capabilities

The Medium Extended Air Defense System recently completed a comprehensive system demonstration at Pratica di Mare Air Base near Rome, Italy. The two-week test demonstration included significant first-time events that were observed by several national delegations. “The outstanding result is that we have demonstrated the full range of advanced network capabilities that only MEADS can...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>