General Dynamics Buys Lockheed Units

General Dynamics Corp. said it has completed its $450-million acquisition of Lockheed Martin Corp.’s combat vehicle and gun system businesses. The defense-systems and armaments-operations businesses are expected to record revenue of about $500 million in 1996, and General Dynamics said it expects significantly more revenue this year. This is General Dynamics’ third acquisition since September 1995. The purchases, announced earlier this year, will boost the company’s military combat vehicle operations. Falls Church, Va.-based General Dynamics, which is building a new Marine Corps armored assault vehicle, is the only U.S. maker of tanks. General Dynamics shares closed down $1.375 at $69.375; Lockheed Martin shares closed down $2.50 at $89. Both trade on the NYSE.