General Dynamics to Acquire Tank Manufacturer Force Protection for $360M

General Dynamics (NYSE: GD) has entered into an agreement to acquire Force Protection, a designer and manufacturer of blast- and mine-protected vehicles, for approximately $360 million.

Force Protection will become a part of General Dynamics’ land systems business unit.

Force Protection also tests, delivers and supports those vehicles, includng the Abrams main battle tank and Stryker infantry combat vehicle.

The company has also produced the the Buffalo, Cougar and Ocelot. It employs about 1,100 workers and is headquartered in Ladson, S.C.

“Force Protection complements and strategically expands General Dynamics’ armored vehicle business, adding new products to the expansive portfolio of combat vehicles that we currently manufacture and support,” said Mark Roualet, president of the land systems unit.

“In addition, Force Protection’s skilled workforce provides high-quality support and sustainment services to an installed fleet of approximately 3,000 vehicles, strengthening our ability to support assets deployed with U.S. forces around the world.  With this acquisition, we will create new opportunities to serve domestic and international customers alike.”

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