Dec. 22 (UPI) -- General Dynamics has been awarded a contract from the U.S. Army to upgrade up to 786 M1A1 Abrams tanks.
The terms of the deal were officially made public on Thursday in a press statement from the Department of Defense. The contract is worth more than $2.6 billion, under the terms of a fixed-price-incentive contract, which is a cost-reimbursement contract that provides for an initial negotiated fee at the time of inception that can later be adjusted.