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17 February 2023
by Marc Selinger
General Dynamics is developing the Ajax armoured fighting vehicle for the British Army. (Crown Copyright)
General Dynamics believes it has resolved noise and vibration problems with its Ajax armoured fighting vehicle and that the UK Ministry of Defence (MoD) will resume making payments for the programme by the end of March, according to officials at the US-based defence contractor.
“We anticipate, given the maturity of the vehicle and where it is in its test programme, that payments will begin to flow again,” General Dynamics chairman and CEO Phebe Novakovic told the Cowen 44th Annual Aerospace/Defense & Industrials Conference on 15 February near Washington, DC. “But we’re not going to be real specific about that other than we anticipate this largely this quarter.”
Since the MoD stopped making payments in 2021, the unpaid balance has grown to USD1.7 billion, General Dynamics wrote in a 7 February filing with the US Securities and Exchange Commission.
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