General Dynamics
General Dynamics (NYSE: 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.
Table of contents |
History
Legacy and Aquisitions
- 1899 – Electric Boat was established and became General Dynamics in 1952
- 1954 – Convair merged with General Dynamics
- 1982 – GD Combat Systems formed after acquisition of Chrysler's combat systems
- 1995 – Acquired Bath Iron Works, established in 1890
- 1999 – Gulfstream Aerospace acquired from Forstmann Little, the company was founded in 1958
- 1998 – Acquired National Steel and Shipbuilding, established in 1905
Divestitures
- Coal mining
- Building materials
- Limestone
- Concrete
- 1991 – Data Systems Division outsourced to Computer Sciences Corp.
- 1992 – Tactical Missiles Division to Hughes Electronics.
- 1992 – Cessna to Textron
- 1993 – Fixed wing military aircraft to Lockheed Martin
- 1993 – Space Systems Division to Martin Marietta
- 1994 – Convair's aerostructures unit to McDonnell Douglas, (Convair closed in 1996).
Product lines as of 2002
- Aerospace
- Gulfstream business aircraft
- Combat Systems – land and amphibious military vehicles e.g.
- M1 Tank
- Advanced Amphibious Assault Vehicle (AAAV)
- the XM2001 Crusader artillery system
- Interim Armored Vehicle
- Information Systems and Technology
- Marine Systems
Subsidiaries
Aerospace
- General Dynamics Aviation Services
- Gulfstream Aerospace
Combat Systems
- European Land Combat Systems
- General Dynamics Land Systems
- General Dynamics Armament and Technical Products
- General Dynamics Ordnance and Tactical Systems
Information Systems & Technology
- General Dynamics Advanced Information Systems
- General Dynamics C4 Systems
- General Dynamics Network Systems
- General Dynamics United Kingdom
Marine Systems
- American Overseas Marine
- Bath Iron Works
- Electric Boat
- National Steel and Shipbuilding
Financials
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.