General Dynamics Primary military products: Submarines (not for export), F-16 fighters, M1-A2 tanks Annual sales: $3.3 billion in 1996 Primary customers: Egypt, Kuwait, Greece, Morocco, Oman, Thailand, Taiwan Famous/infamous for: Heavy reliance on foreign sales; making a submarine capable of singlehandedly incinerating an area the size of Russia Major campaign contributions (1997-98): $693,903 from General Dynamics and related PACs

Among the country's top 10 arms makers, General Dynamics was in 1996 the most reliant on military sales. And that's after it sold several of its divisions: Cessna Aircraft to Textron for $600 million (1992); later that year, GD Missile Systems to General Motors Hughes; the Tactical Military Aircraft program to Lockheed (1993), and that December its Space Launch Systems division to Martin Marietta (now part of Lockheed Martin).

The flurry of cash left General Dynamics free to concentrate on submarines. Its electric boat business unit, with its massive facility in Groton, Connecticut, produces the U.S. Navy's Trident and Seawolf nuclear subs. General Dynamics doesn't export these kinds of strategic nuclear weapons platforms, but it certainly can sell to other countries through its land systems division, which makes tanks and anti-aircraft missiles. And it's done well in this niche; everybody loves tanks, including the top-of-the-line M1 Abrams.

"Everybody," in this case, includes countries like Egypt (M1 tank turrets); Kuwait (M1A2 tanks); Morocco (M60A1 and M60A3/TTS tanks); and Oman, Thailand, and Taiwan (M60A3/TTS tanks). Overall the company's land and sea weapons earned it $3.3 billion in sales in 1996 -- 92 percent of total sales.

Meanwhile GD is rumored to be interested in buying Britain's Alvis Co. (rumor has it that United Defense is another suitor). Alvis recently bought the Warrior armored tank division of Europe's GKN in September -- meaning the company that buys Alvis would gain global market share for one of the world's favorite low-end weapon buys.

GD may soon fall victim to merger-happiness itself; rumors about a possible acquisition of the company by Northrop Grumman have circulated for months. Especially after Lockheed Martin's bid to merge with Northrop Grumman fell victim to concerns about scrutiny by the Justice Department, Northrop Grumman seems likely to pursue acquisitions on its own, adhering to the "Bigger is better" philosophy.

Do these financial dances have negative consequences for management? Hardly: In 1994 General Dynamics CEO James Mellor acquired $11.3 million in compensation -- while between 1990 and 1995, the company cut 35,465 jobs.

-- Geov Parrish

Morocco didn't make Mojo Wire's list of top buyers but it still managed to cough up $110 million in 1996 to buy 120 M60A3 tanks from the Pentagon, including 105 mm main guns and thermal sights, spare parts, 120 M240 machine guns, 3,000 rounds of 105 mm ammunition, and smoke-grenade launchers.