General Dynamics wins Canadian order worth up to $13B, shares +1.9%


General Dynamics (GD +1.9%) pops higher on news it has contracted with Canada's government to provide military and commercial vehicles, training, and support services to an unnamed international customer.

GD says the 14-year contract has an initial value of $10B but could be worth up to $13B if all options were exercised.

GD does not identify the customer, but Canadian Trade Minister Ed Fast says the vehicles would be sold to Saudi Arabia; he describes the deal as the largest export win in Canada's history.

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