Ceradyne, Inc. Receives $21.3 Million SAPI Armor Award; Multi-Year Contract Increased for 2004.Business Editors COSTA MESA Costa Mesa (kŏs`tə mā`sə), city (1990 pop. 96,357), Orange co., S Calif., on the Pacific south of Santa Ana; inc. 1953. It is a transportation, residential, and light industrial center. , Calif.--(BUSINESS WIRE)--Nov. 7, 2003 Ceradyne, Inc. (Nasdaq:CRDN CRDN Certified Restoration Drycleaning Network ) announced the receipt of an additional order of $21.3 million for small arms small arms, firearms designed primarily to be carried and fired by one person and, generally, held in the hands, as distinguished from heavy arms, or artillery. Early Small Arms The first small arms came into general use at the end of the 14th cent. protective inserts (SAPI (Speech API) A programming interface from Microsoft for speech recognition and synthesis. It provides a way for developers to enable their applications to receive text from and send text to voice devices. 1. ) for delivery in 2004. This order is an increase to the multi-year SAPI contract announced on September 29, 2003. This brings the total delivery orders under that multi-year contract to $64 million scheduled for 2004 delivery. The delivery order was issued from the same U.S. Department of Defense office as the multi-year contract. The order represents the government's exercise of Option 1 under the multi-year procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. plus the 50% surge quantity also under Option 1. Joel Moskowitz, Ceradyne chief executive officer, commented: "We are pleased to receive this additional SAPI order and plan to begin shipping this late in the first quarter of 2004 and expect to complete shipments in the fourth quarter of 2004. As we had announced earlier, we are installing additional equipment to increase armor production capacity, which we anticipate will be on stream early next year. We appreciate the government's continuing confidence in the quality and delivery performance of Ceradyne on these critical protective armor components. We are pleased to be able to save American soldiers' lives far from home in places such as Iraq and Afghanistan." Ceradyne develops, manufactures and markets advanced technical ceramic This article is about ceramic materials. For the fine art, see Ceramic art. The word ceramic is derived from the Greek word κεραμικός (keramikos). 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, certain matters discussed in this news release constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties that could cause actual results to differ materially from those projected. The Company may use words such as "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions to identify forward-looking statements. These risks and uncertainties are described in the Company's prospectus dated July 1, 2003 as filed with the Securities and Exchange Commission. |
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