Ceradyne, Inc. Receives U.S. Marine Corps Developmental Test Helmet Awards
July 23 2009 - 7:30AM
Business Wire
In response to the U.S. Marine Corps Systems Command
(MARCORSYSCOM) solicitation, Ceradyne, Inc. (NASDAQ:CRDN) has been
awarded Developmental Test Helmet awards valued at approximately
$1.2 million. These test helmets are expected to be delivered
within 30 days.
On June 9, 2009, Ceradyne announced that it had acquired
substantially all of the business, assets and technology of the
Salem, New Hampshire based helmet manufacturer, Diaphorm
Technologies, LLC. Simultaneously, Ceradyne announced that it had
submitted a response to a Marine Corps solicitation, now in
conjunction with the U.S. Army PEO Soldier. The solicitation was
for the procurement of Enhanced Combat Helmets (ECH) with the
intention to procure prototype combat helmets with the option to
field production helmets to both services.
This Developmental Test Helmet awards are a direct result of the
solicitation. The government has the option of procuring a minimum
of 310 helmets and a maximum of approximately 246,840 helmets over
the next two years.
As Ceradyne stated in its June 9, 2009 press release,
�Ceradyne�s strategy is to combine its successful track record in
body armor programs with the proprietary helmet-forming
technologies of Diaphorm to create a world class manufacturer of
Enhanced Combat Helmets. Ceradyne-Diaphorm�s Enhanced Combat Helmet
will provide substantively increased levels of protection,
utilizing high-volume repeatable manufacturing with reliable
on-time delivery to support expedited procurements.�
David Reed, President of North American Operations, commented:
�Our Enhanced Combat Helmet team is very pleased and excited
regarding this recent award. This type of product is exactly what
we had in mind when we developed our diversification and
acquisition strategy�taking advantage of our state-of-the-art
ballistic technology in areas of the military where our past
performance and quality are already established. This strategy led
directly to our recent Diaphorm acquisition.
�Our intention is to maintain the helmet research and
development activities in Salem, New Hampshire, and, assuming a
production award, implement a production volume helmet line in our
state-of-the-art �lean� armor assembly plant in Irvine,
California.�
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, 2008,
and its Quarterly Reports on Form 10-Q, as filed with the U.S.
Securities and Exchange Commission.
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