Ceradyne, Inc. Receives $42.8 Million Ceramic Body Armor Contract; Deliveries Scheduled From August 2006 thru October 2006.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. -- Ceradyne, Inc. (Company) (Nasdaq:CRDN CRDN Certified Restoration Drycleaning Network ) announced the receipt of a $42.8 million delivery order for its lightweight ceramic body armor Noun 1. body armor - armor that protects the wearer's whole body body armour, cataphract, coat of mail, suit of armor, suit of armour armet - a medieval helmet with a visor and a neck guard . This is the eighth delivery order received under the $461 million indefinite delivery/indefinite quantity (ID/IQ ID/IQ Indefinite Delivery/Indefinite Quantity ID/IQ Indefinite Duration/Indefinite Quantity ) contract announced on August 20, 2004. Including this delivery order, orders received under this contract total approximately $335 million, with approximately $126 million in unplaced options. The contract was awarded to Ceradyne by the U.S. Army Unique Missions Division, Aberdeen Proving Grounds, Maryland. Joel Moskowitz, Ceradyne chief executive officer, commented, "We believe that the additional ceramic armor manufacturing capacity which has been brought on stream in our new Lexington, Kentucky Lexington, Kentucky, United States, known as the "Horse Capital of the World," is located in the heart of the Bluegrass region. It is the second-largest city in Kentucky, after Louisville, Kentucky,[1] and the 68th largest in the United States. and Irvine, California armor facilities has enabled us to meet our quality and delivery projections to the government. "Furthermore," Moskowitz commented, "the August 2004 acquisition of the German technical ceramic and ceramic powder company, ESK ESK Esperanto-Societo Kebekia (Quebec Esperanto Society) ESK Ekonomik Sosyal Konsey ESK Eisenschweinkader (German bicycle club) ESK Electronic SWO (Staff Weather Officer) Kit Ceramics, ensures a steady flow of the base ceramic starting powder -- Boron Carbide. "Under an ID/IQ type contract, the government is obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to purchase only certain minimum quantities," Moskowitz noted. "Each delivery order is issued as a release against a maximum amount, which for this contract is $461 million. Therefore, our projections of follow-on business under this contract anticipate receipt of additional delivery orders. Ceradyne includes delivery orders as backlog only when there is a firm delivery schedule." Moskowitz added: "Ceradyne is proud to have been awarded this contract and is confident that the Ceradyne armor systems that will be fielded in large quantities will help to save American lives." Ceradyne develops, manufactures and markets advanced technical ceramic 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, this news release contains forward-looking statements regarding future events and the future performance of Ceradyne that involve risks and uncertainties that could cause actual results to differ materially from those projected. Words such as "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions are intended to identify forward-looking statements. Other risks and uncertainties are described in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended December 31, 2004, as filed with the Securities and Exchange Commission. |
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