General Dynamics Grabs $425 Million SPIKE Missile Deal With Spain

General Dynamics Corp. [GD] received a $424.5 million contract from the Spanish Army for Long Range (LR) SPIKE Missile Systems.

General Dynamics Santa Barbara Sistemas, the prime contractor, has an agreement with the Israeli company RAFAEL to produce the systems.

About 60 percent of the program work will be completed in Spain, where General Dynamics Santa Barbara Sistemas will manufacture system components and perform final assembly and testing.

The SPIKE-LR is a lightweight, shoulder-launched multi-purpose missile system with a range of up to 4,000 meters (2.5 miles).

That contract calls for 260 launchers and 2,600 missiles, plus integrated logistics support (ILS) by 2014.

General Dynamics Santa Barbara Sistemas, which employs 2,000 people in nine facilities in Spain, is the Spanish Army’s main supplier of land combat vehicles, artillery systems and ammunition. The company has production contracts for the Spanish MBT Leopardo 2E, the Pizarro Infantry Fighting Vehicle and the 155/52 SIAC Howitzer, and its products are marketed in 47 countries.