KUWAIT SIGNS LETTER OF INTENT TO PURCHASE M1A2 TANKS FROM U.S.
STERLING HEIGHTS, Mich., Feb. 15 /PRNewswire/ -- The Government of Kuwait on Sunday, Feb. 14, signed a Letter of Intent (LOI) confirming its purchase of more than 200 M1A2 Abrams main battle tanks. The tanks will be produced by General Dynamics' Land Systems Division. The Government of Kuwait's action enables the U.S. Army to authorize General Dynamics (NYSE: GD) to proceed with long-lead procurement and planning start-up activities which will pave the way toward actual production. The final stage in the contractual procedure between the governments of Kuwait and the United States is the exchange of a signed Letter of Offer and Acceptance (LOA) which is expected to take place soon. Kuwait announced last October its selection of the M1A2 Abrams over the British Challenger II main battle tank. The LOA will contain details of all the equipment and support services requested by Kuwait. It also will enable the U.S. Army to contract with General Dynamics for the full production program and in- country program support. -0- 2/15/93 /CONTACT: Karl G. Oskoian of General Dynamics Land Systems Division, 313-825-7980/ (GD)
CO: General Dynamics Corporation ST: Michigan IN: ARO SU: CON
ML -- DE020 -- 6581 02/15/93 15:54 EST
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|Date:||Feb 15, 1993|
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