Lagging sales push GD into shopping mode

Defense giant needs new blood to increase bottom line

General Dynamics Corp. is in the market to buy some companies as the result of last year’s smallest sales increase since 1995, according to Bloomberg News.

Bloomberg said M&A activity might help General Dynamics face the weakest stretch of profit growth in two decades.

The defense giant hasn’t done a billion-dollar deal for a publicly traded company in five years, Bloomberg News reported and quoted company CEO Jay Johnson as saying General Dynamics is “looking at opportunities” to buy businesses after revenue rose less than 2 percent in 2010.

General Dynamics Corp., of Falls Church, Va., ranks No. 6 on Washington Technology’s 2010 Top 100 list of the largest federal government contractors.

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