General Dynamics expands its manufacturing capability with acquisition of Gayston Corporation's defense operations

FALLS CHURCH, Va., 28 Aug. 2012. General Dynamics (NYSE: GD) has acquired the defense operations of Gayston Corp., a privately held company that supplies precision metal components used in several munitions programs. In addition to aluminum extrusion, Gayston is proficient in the areas of design, fabrication, finishing, assembly, and inspection. The value of the cash transaction, which General Dynamics expects to be accretive to earnings in 2013, has not yet been disclosed.

Gayston’s defense operations employ 187 people at a facility in Springboro, Ohio, which is optimized for aluminum impact extrusion manufacturing. Among its products, Gayston manufactures rocket motor tubes for the U.S. Army’s Hydra-70 air-to-ground rocket program. It 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 Charlotte, N.C.-based General Dynamics Armament and Technical Products, a provider of high-performance weapon and armament systems, composite products and heavy-duty off-road axle and suspension systems to the U.S. military, allied forces and commercial customers.