ADG Closes Sale of Titan Dynamics Business To Chemring Group

Defense Daily, March 20, 2008

The Allied Defense Group [ADG] this week said it has completed the sale of its Texas-based Titan Dynamics Systems subsidiary to Chemring Group PLC for $4.8 million as part of an ongoing effort to divest non-core assets and reduce debt.

For United Kingdom-based Chemring, which specializes in the manufacture of decoy countermeasures and energetic materials, the acquisition builds on its current capabilities in conventional and cartridge-based military training pyrotechnics and adds the ability to design, qualify and manufacture launchers that are integrated with training systems operated by the United States military and selected training service providers. Chemring said the combination allows it to offer a complete range of advanced pyrotechnic simulators, which are used to train forces for a variety of threats, including improvised explosive devices.

ADG's financial adviser on the deal was Houlihan Lokey.

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