Acquisition

RNS Number : 0008S

Chemring Group PLC

01 September 2010

 



FOR IMMEDIATE RELEASE                                                                          1 SEPTEMBER 2010

CHEMRING GROUP PLC

COMPLETION OF ACQUISITION OF MECAR BUSINESSES

Chemring Group PLC ("Chemring") announces that it has successfully completed its acquisition of Mecar SPRL, based in Nivelles, Belgium and the business and assets of Mecar USA, Inc., based in Marshall, Texas, having received the necessary regulatory approvals. The acquisition was announced on 24 June 2010.

Mecar SPRL is a niche manufacturer of medium and large calibre ammunition, particularly for modern, light armoured vehicles. The Mecar USA, Inc. business, which will trade as Chemring Military Products, Inc., provides load, assemble and pack and procurement services for the US Government and prime contractors. The two businesses were previously the main operating subsidiaries of The Allied Defense Group, Inc.

Chemring's next scheduled trading update will be its Interim Management Statement, scheduled for release on 16 September 2010.

For further information:

Dr David Price            Chief Executive, Chemring Group PLC          01489 881880

Paul Rayner                Finance Director, Chemring Group PLC        01489 881880

Rupert Pittman           Cardew Group                                                 0207 930 0777 

 

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