General Dynamics Buys Gayston Corp’s Defense Operations Unit; Michael J. Mulligan Comments

General Dynamics (NYSE: GD) announced Monday its acquisition of Gayston Corp. Defense Operations for an undisclosed amount.

The acquisition is expected to be a cash transaction and will be accretive to 2013 earnings.

Michael J. Mulligan, president of General Dynamics Armament and Technical Products, said the acquisition is expected to expand the company’s “critical manufacturing capability to cost-efficiently produce high-precision parts in large quantities” and provide “more opportunities to participate in high-performance weapon system programs.”

Gayston provides high-performance weapon and armament systems to the U.S. military, allied forces and commercial customers.

Its defense operations unit houses 187 employees in its Springboro, Ohio facility.

Gayston Defense Operations will become part of GD’s Armament and Technical Products based in Charlotte, N.C.

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