Ceradyne, Inc. Receives $5.6 Million Armor Orders; For U.S. Navy Helicopters and New Military Program
August 24 2005 - 7:30AM
Business Wire
Ceradyne, Inc. (Company) (Nasdaq:CRDN) received two new orders
totaling $5.6 million for its lightweight ceramic armor systems. A
$1.6 million order was received from the U.S. Navy for ceramic
armored seats for Navy helicopters, and a $4 million order was
received for lightweight ceramic body armor for a new military
program. Shipments are expected to commence in the fourth quarter
of 2005 and be completed by June 2006. These new orders are
separate from the $461 million contract for ESAPI for the U.S. Army
announced in 2004. Joel Moskowitz, Ceradyne chief executive
officer, commented: "I am very pleased that we were selected as the
supplier of these state-of-the-art military protection systems. The
increasing diversity of our ceramic armor systems is demonstrated
by orders such as these, which represent growth potential beyond
ESAPI products and the potential addition of several new
customers." Ceradyne develops, manufactures and markets advanced
technical ceramic products and components for defense, industrial,
automotive/diesel and commercial applications. Additional
information about the Company can be found at www.ceradyne.com.
Except for the historical information contained herein, this news
release contains forward-looking statements regarding future events
and the future performance of Ceradyne that involve risks and
uncertainties that could cause actual results to differ materially
from those projected. Words such as "anticipates," "believes,"
"plans," "expects," "intends," "future," and similar expressions
are intended to identify forward-looking statements. Other risks
and uncertainties are described in the Company's Annual Report on
Form 10-K for the fiscal year ended December 31, 2004, and its
Quarterly Report on Form 10-Q for the quarter ended June 30, 2005,
as filed with the Securities and Exchange Commission.
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