Ceradyne, Inc. Receives $113 Million Ceramic Body Armor Order for U.S. Army
January 31 2007 - 7:30AM
Business Wire
Ceradyne, Inc. (NASDAQ: CRDN) received a $113 million delivery
order for ESAPI (Enhanced Small Arms Protective Inserts) from the
U.S. Army, Aberdeen Proving Ground, Maryland. This new delivery
order is scheduled to be shipped beginning April 2007 through early
September 2007. This delivery order will be shipped against a
larger indefinite delivery/indefinite quantity (ID/IQ) contract
announced earlier. The Company records as firm orders only delivery
orders, such as the above, that have firm scheduled delivery dates.
Dave Reed, Ceradyne President North American Operations, commented:
�This delivery order is the largest single ESAPI order ever
received by Ceradyne. It represents an increase in the shipping
rates of approximately 17% to the U.S. Army compared to 2006.
Utilizing the Lexington, Kentucky facility and the Costa Mesa and
Irvine, California plants, we expect to meet the Army�s quality and
delivery requirements. We believe that the increase in delivery
rates is due to our prior quality and delivery performance. We are
committing the Company�s development and production resources in
order to fulfill the Army�s immediate and longer term
requirements.� 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 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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