Ceradyne Receives $75.5 Million Ceramic Body Armor Order
July 7, 2005
Ceradyne, Inc. recently announced the receipt of a $75.5 million delivery order for its lightweight ceramic body armor. This is the third delivery order received under the $461 million indefinite delivery/indefinite quantity (ID/IQ) contract announced on August 20, 2004. Including this delivery order, orders received under this contract total approximately $179 million, with approximately $282 million in unplaced options. The contract was awarded to Ceradyne by the U.S. Army Unique Missions Division, Aberdeen Proving Ground, Md. "We expect to receive additional delivery orders against this ID/IQ contract later this year and throughout the remaining 25 months of this contract," said Joel Moskowitz, chief executive officer. "The acquisition in 2004 of ESK, our supplier of the raw material boron carbide, coupled with additional armor capacity coming on stream in our new Lexington, Ky., plant and Irvine, Calif., facility are anticipated to allow Ceradyne to meet these as well as other projected requirements."
Additional information about the company can be found at http://www.ceradyne.com.