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General Dynamics to Modernize Army Abrams Tanks Under Potential $2.6B Contract

General Dynamics (NYSE: GD) has received a potential three-year, $2.63 billion contract to modernize the U.S. Army‘s M1A1 Abrams tanks.

The Defense Department said Thursday that General Dynamics’ land systems business will convert 786 M1A1 configured vehicles to the new M1A2 System Enhancement Package Version 3 configuration.

GDLS will also upgrade M1A1 vehicles to M1A12S and M1A2-K models.

The Army received solicited bids and received one proposal for the fixed-price-incentive contract via the internet.

Work is scheduled for completion by Dec. 21, 2020.

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