Ceradyne, Inc. Receives $70 Million Ceramic Body Armor Order
January 20 2006 - 7:30AM
Business Wire
Ceradyne, Inc. (Company) (Nasdaq:CRDN) announced the receipt of an
order for its lightweight ceramic body armor in the amount of $70
million from the U.S. Army. This particular contract is for new
designs developed to protect the side areas of a soldier's torso
when used in conjunction with Ceradyne's ceramic body armor plates.
Ceradyne anticipates it will commence shipments this month with
order completion late in second-quarter 2006. Joel Moskowitz,
Ceradyne chief executive officer, commented: "We are very pleased
to receive this 'urgent and compelling' order which, no doubt, will
save American lives. We continue to invest in expanding our
Lexington, Kentucky, ceramic manufacturing facility in order to
meet these immediate requirements of the U.S. Army." Moskowitz
further commented: "On January 12, 2006, the U. S. Army issued a
presolicitation notice regarding a significant proposed 5-year
requirement for side plate protection. It is anticipated that the
government will issue orders against their 5-year requirement early
in 2006, with initial deliveries starting in third-quarter 2006."
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. These risks
and uncertainties are described in the Company's supplemental
prospectuses, dated December 13, 2005, as filed with the U.S.
Securities and Exchange Commission, and the documents included or
incorporated by reference therein.
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