General Dynamics gets $12.6b Saudi arms order
Published on Feb 15, 2014 3:28 AM
OTTAWA (AFP) - The Canadian subsidiary of US arms maker General Dynamics has won a US$10 billion (S$12.6 billion) order for armored vehicles for Saudi Arabia, Canada's Trade Minister Ed Fast announced Friday.
The vehicles will be produced by General Dynamics Land Systems-Canada (GDLS) in London, Ontario, and the deal could be worth up to US$13 billion if all options are exercised, according to securities filings.
The agreement also includes associated equipment, training and support services, said a statement.
Mr Fast said the 14-year "landmark contract" will create and sustain more than 3,000 jobs in Canada, and give a boost to more than 500 companies across Canada that supply parts and materials to General Dynamics.
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