Ceradyne, Inc. Receives Initial $2.3 Million Armor Contract for AM General M1152 Vehicle
May 31 2006 - 7:30AM
Business Wire
Ceradyne, Inc. (Company) (Nasdaq:CRDN) announced that it has
received the initial production award for the M1152 HMMWV
(HUMVEE(R)) vehicle armor components from AM General Corporation.
This $2.3 million contract is for the latest-generation HUMVEE(R),
which is now in production. Shipments are scheduled to begin in
June 2006 and be completed in October 2006. Ceradyne designed the
armor in its Wixom, Michigan, prototype facility in conjunction
with AM General's development team in Livonia, Michigan. The
production armor components will be manufactured in Ceradyne's
recently leased 80,000 square-foot Irvine, California, armor
facility. Marc King, Ceradyne vice president of armor operations,
commented: "We are particularly pleased with this order, as it is
our first production order for vehicle armor and complies with the
'A' kit strategy that is part of the Army's LTAS (Long Term Armor
Strategy). The armor components will go into the 2-man version of
AM General's latest M1152 design." King added, "We are currently
performing further armor research and developing new ceramic
composite armor designs for additional M1152 variations, as well as
other military vehicles." Ceradyne develops, manufactures and
markets advanced technical ceramic products and components for
defense, industrial, automotive/diesel, and consumer applications.
Additional information about the Company can be found at
www.ceradyne.com. This press 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 Annual Report on Form 10-K for the
fiscal year ended December 31, 2005, and its Quarterly Reports on
Form 10-Q, as filed with the U.S. Securities and Exchange
Commission.
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