TECH - General Dynamics Helping Pentagon Amp Up Military Support As Ukraine-Russia Conflict Strains Ammo Supplies | Benzinga
In light of the ongoing conflict in Ukraine, the U.S. military is significantly increasing its ammunition production. The Pentagon is pouring $6 billion into the modernization and expansion of munitions facilities, with defense contractor General Dynamics (NYSE:GD) at the forefront of this initiative.
What Happened: The Ukraine conflict has put a strain on the ammunition supplies of the U.S. and its allies. The Pentagon is now investing heavily in updating World War II-era plants and boosting production at new facilities.
Defense contractor General Dynamics is employing sophisticated machinery to speed up and improve ammunition production, supported by a part of a $1 billion contract, The Wall Street Journal reported on Monday. The company is primarily focusing on the production of 155mm shells, which are frequently ...