General Dynamics Helping Pentagon Amp Up Military Support As Ukraine-Russia Conflict Strains Ammo Supplies
Portfolio Pulse from Benzinga Neuro
The U.S. military is significantly increasing its ammunition production due to the ongoing conflict in Ukraine. The Pentagon is investing $6 billion in modernizing munitions facilities, with General Dynamics (NYSE:GD) playing a key role. The company is focusing on producing 155mm shells, supported by a $1 billion contract.
June 24, 2024 | 1:58 pm
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General Dynamics is receiving part of a $1 billion contract to modernize and expand ammunition production facilities, focusing on 155mm shells. This is part of a $6 billion Pentagon initiative to increase ammo production due to the Ukraine conflict.
General Dynamics is directly involved in a significant Pentagon initiative to increase ammunition production, which is likely to positively impact its revenues and stock price in the short term.
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