General Dynamics' Unit Wins $1.3B Contract To Supply Armored Vehicles To Austrian Armed Forces

General Dynamics Corporation GD said its unit General Dynamics European Land Systems – Steyr (GDELS) secured a contract to supply 225 additional PANDUR 6×6 EVO wheeled armored vehicles to the Austrian Armed Forces.

The contract is valued at €1.2 billion (equivalent to $1.3 billion), initially. GDELS currently has a contract for 100 PANDUR EVO vehicles, with the third batch in production and delivery. 

As of the end of December 2023, General Dynamics’ long-term debt was $8.754 billion. The company’s cash and equivalents totaled $1.913 billion by the end of 2023. 

“Today’s procurement decision marks an extraordinary milestone in the history of our PANDUR and underlines the globally unique performance and multi-role capability of this wheeled armored vehicle family,” said GDELS President Antonio Bueno. 

The compact, high-performance PANDUR EVO 6×6 is built at GDELS’ Steyr facility in Vienna Simmering, the national center of excellence for wheeled and tracked protected military mobility. 

Preceding versions of the PANDUR EVO have been in service with the Austrian Armed Forces since 1996.

The order encompasses state-of-the-art personnel carriers, versatile conversion kits for medical and command & control tasks, and eight new vehicle variants, such as those featuring a 120 mm mortar combat system and mobile air defense and electronic warfare capabilities.

Around 850 PANDUR in 6×6 and 8×8 configurations are fielded worldwide today. Other users include Belgium, the Czech Republic, Indonesia, Kuwait, Portugal, Slovenia, and the U.S.

Price Action: GD shares closed lower by 0.19% to $268.93 on Tuesday.