General Dynamics unit wins $870 million contract from Spain


General Dynamics Corp (GD.N) said on Tuesday its joint venture along with Spanish defense contractor Santa Bárbara Sistemas had won a contract worth $870 million for wheeled combat vehicles from the Spanish Ministry of Defense.

The deal, a part of a larger contract valued at $2.06 billion to deliver 348 wheeled combat vehicles to the Spanish military, was given to the joint venture of General Dynamics European Land Systems and Santa Bárbara Sistemas as well as three other companies.

It includes the maintenance and life cycle support of the vehicles and support for their international commercialization. The vehicles are expected to be delivered over a seven-year period.

The program is expected to grow to a total of about 1,000 vehicles, General Dynamics said.