General Dynamics to Invest $200 Million and End Turkish Partnership for Texas Artillery Shell Plant
General Dynamics will spend $200 million of its own funds and terminate a partnership with Turkish defense contractor Repkon to begin 155mm artillery shell production at a Texas facility previously delayed.
247wallst.comGeneral Dynamics will invest $200 million of its own money and end its partnership with Turkish defense contractor Repkon to start production of 155mm artillery shells at a Texas plant that has faced repeated delays. The company said the move is intended to allow manufacturing to begin after earlier timelines were not met.
Background on the Project The Texas plant was established to increase domestic output of artillery ammunition. Production had been scheduled to start earlier but has not yet begun.
Dynamics will unwind its existing arrangement with Repkon as part of the new plan. The company did not provide a revised production start date.
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