Sunday, March 1st-4.3°C
25327
23934

General Dynamics Canada signs US$10B armoured vehicle deal with Saudi Arabia

LONDON, Ont. - General Dynamics Land Systems - Canada has signed a contract worth at least US$10 billion to supply armoured vehicles and equipment, training and support services to Saudi Arabia.

The federal government said Friday that the 14-year contract will create and sustain more than 3,000 jobs in Canada.

It was negotiated through the Canadian Commercial Corp., Ottawa's international government-to-government contracting organization.

If fully exercised, the value of the contract would rise to about US$13 billion, General Dynamics said in a regulatory filing.

Delivery of the first vehicles under is expected in 2016.

"This latest contract confirms our position as a leading armoured vehicle designer and manufacturer in the world," said company vice-president Danny Deep.

Trade Minister Ed Fast called the contract the largest advanced manufacturing export contract in Canadian history.

"Supporting Canadian manufacturers, their workers and their suppliers as they seek out new markets for their products around the world is a primary focus of our Conservative government's efforts," Fast said.

The contract with the Saudis follows an agreement last year that saw the General Dynamics operations in London, Ont., win a US$65.3-million contract with the Colombian government.

The Colombian Ministry of National Defence signed a deal to buy 24 light armoured vehicles from General Dynamics.

General Dynamics Land Systems - Canada also signed a US$24-million deal last year to produce 13 light armoured vehicles for the U.S. Marine Corps.

The Canadian Press


Read more Business News

25320


Recent Trending




Today's Market
S&P TSX15234.34-6.82
S&P CDNX706.73+5.80
DJIA18132.70-81.72
Nasdaq4963.528-24.362
S&P 5002104.50-6.24
CDN Dollar0.7996+0.0004
Gold1203.00+6.10
Oil52.14+1.53
Lumber297.20+1.20
Natural Gas2.895-0.007

 
Okanagan Companies
Pacific Safety0.12+0.005
Knighthawk0.010.00
QHR Technologies Inc1.55-0.03
Cantex0.035-0.005
Anavex Life Sciences0.190.00
Metalex Ventures0.035-0.005
Russel Metals25.38+0.08
Copper Mountain Mining1.30+0.04
Colorado Resources0.15+0.015
ReliaBrand Inc0.008-0.0007
Sunrise Resources Ltd0.05+0.015
Mission Ready Services0.235+0.025

 



24356

FEATURED Property
21602349810 Highway 97 N
2 bedrooms 1 baths
$229,900
more details
Click here to feature your property
Please wait... loading


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...


It's OK to say 'I'm sorry'

Photo: ContributedStand-up comedians and sitcoms have been making fun of Canadians for being polite as long as I can remember. Being known for our niceness is certainly not a bad thing and I wish more...


Are you asking the right questions?

Have you ever had this happen to you? You are in the middle of your second or third good discussion with a prospect and everything seems to be going great. The prospect seems engaged and happy to work...

_








Member of BC Press Council


25107