Defense contractor General Dynamics Corp. said on Monday that it has acquired the defense operations of Gayston Corp., a privately held supplier of metal components used in munitions.
General Dynamics did not disclose the value of the cash transaction. The company, based in Falls Church, Va., expects the acquisition to add to earnings next year.
Gayston's defense operations employ 187 workers at a facility in Springboro, Ohio. Manufactured products include rocket motor tubes for the U.S. Army's Hydra-70 air-to-ground rocket program. Gayston also provides liners and cartridges for 40mm ammunition rounds and components for 60-120mm mortar rounds to a variety of customers.
The defense operations of Gayston will become part of General Dynamics Armament and Technical Products. That unit, based in Charlotte, N.C., supplies weapons, armaments and heavy-duty vehicle axle and suspension systems to the U.S. military, allied forces and commercial customers.
Shares of General Dynamics fell 33 cents to $55.76 in afternoon trading.