Manufacturing Industry
CHEMRING GROUP PLC - Acquisition of Titan Dynamics Systems, Inc.
PR Newswire UK Disclose, January, 2008
FOR IMMEDIATE RELEASE 24 JANUARY 2008
CHEMRING GROUP PLC
ACQUISITION OF TITAN DYNAMICS SYSTEMS, INC.
Chemring Group PLC ("Chemring") announces that it has conditionally agreed to
acquire the entire issued share capital of Titan Dynamics Systems, Inc.
("Titan") from The Allied Defense Group, Inc for a cash consideration of $4.75
million.
Titan, based in Marshall, Texas, USA, is a leading manufacturer of battlefield
effects simulators ("BES"), which are incorporated into the US Army's and
Marine Corps' digital training ranges. Under a five year contract operated by
the US Program Executive Office, Simulation, Training and Instrumentation
(PEOSTRI), Titan supplies proprietary launchers and cartridges to provide ...
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