General Dynamics (NYSE: GD (http://www.nyse.com/about/listed/lcddata.html?ticker=GD)) is a defense conglomerate formed by mergers and divestitures. It has changed markedly in the post-Cold War era of defense consolidation. Nicholas D. Chabraja is the CEO.
General Dynamics has about $12 billion in sales, primarily military, but also civilian with its Gulfstream Aerospace unit and conventional ship-building and repair with its National Steel and Shipbuilding subsidiary.
In 2004 General Dynamics bid for the UK company Alvis Vickers, the leading British manufacturer of armoured vehicles. In March the board of Alvis Vickers voted in favour of the £309m takeover. However at the last minute BAE Systems offered £355m for the company in what was seen as a move to keep General Dynamics out of its "back yard". This deal was finalised in June 2004.
General Dynamics has tried to acquire Newport News Shipbuilding but been blocked by regulators and competitors.
GeneralDynamicsNYSE: GD is a defense conglomerate formed by mergers and divestitures, and as of 2005 it is the sixth largest defense contractor in the world [2].
Current members of the board of directors of GeneralDynamics are: Nicholas Chabraja, James Crown, Lester Crown, William Fricks, Charles Goodman, Jay Johnson, George Joulwan, Paul Kaminski, John Keane, Lester Lyles, Carl Mundy, and Robert Walmsley.
GeneralDynamics has about $12 billion in sales, primarily military, but also civilian with its Gulfstream Aerospace unit and conventional ship-building and repair with its National Steel and Shipbuilding subsidiary.
GeneralDynamics was officially established on April 24, 1952, when the shareholders of Electric Boat Corporation, a company based in Washington and New York States, followed the recommendation of its president and chief executive officer, John Jay Hopkins, and voted to change the company's name.
Because Convair was based in the United States, GeneralDynamics acquired the capability to bid on U.S. aerospace contracts, perhaps one of the greatest advantages of the merger.
GeneralDynamics sold Cessna to Textron in January 1992, its missile operations to General Motors-Hughes in May 1992 for $450 million, its Fort Worth Division to Lockheed for $3 billion in March 1993, and its Space Systems Division to Martin Marietta in 1994.
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