June 11 (Reuters) - The Pentagon on Wednesday said it would cancel plans to procure M10 Booker combat vehicles that it had agreed to in a 2022 contract with General Dynamics Land Systems GD.N "in response to current world events."
"The Army will request to reallocate the remaining funds in fiscal 2025 to accelerate fielding of war-winning capabilities and anticipates additional significant savings to be fully realized within the next 18-24 months," the Pentagon said in a statement.
(Reporting by Jasper Ward; Editing by Leslie Adler)
((Costas.Pitas@thomsonreuters.com; Reuters Messaging: @Cpitas on X))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.