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Tank maker titan?
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August 13, 1997: 7:22 a.m. ET
General Dynamics makes $1 billion bid to seal up tank-making business
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NEW YORK (CNNfn) - General Dynamics Corp. reportedly has bid about $1 billion in the auction for United Defense LP in an effort to corner the tank-making business for the U.S. government.
If General Dynamics were successful when the auction concludes later this week, the purchase would give the company a virtual tank-making monopoly and test U.S. antitrust policy, the Wall Street Journal reported.
Closely-held Carlyle Group and Alliant Techsystems Inc. have also expressed interest, the newspaper said.
United Defense is a military vehicle producer in Arlington, Va. The company is a limited partnership formed in 1994 between chemical and equipment maker FMC Corp. and Harsco Corp., a manufacturer and construction services provider.
General Dynamics is the only producer of tanks and certain classes of nuclear submarines. Amid massive consolidations in the industry, the company has been waiting for the right time to expand its two primary product lines, the newspaper said. 
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General Dynamics
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