United Defense Acquires Corrosion Engineering Services, Inc.
"This acquisition allows USMR to grow our business by expanding into areas such as submarine work. DOD clearances are held by at least 75 percent of the painters at CES. Additionally, CES has surveyors and inspectors holding certification from the National Association of Corrosion Engineers and the U.S. Navy," said Al Krekich, president of USMR. "As CES and USMR have a major common customer in the U.S. Navy, this merging of services is of benefit to both companies and enables USMR to provide an even greater level of service to the military."
CES facilities are located in San Diego and Chula Vista, Calif.; Bremerton and Arlington, Wash.; Norfolk and Arlington, Va.; Groton, Conn.; St. Mary's, Ga.; Atlantic Beach, Fla.; and Pearl City and Aiea, Hawaii. CES employs 370 people.
About United Defense Industries
United Defense designs, develops and produces combat vehicles, artillery, naval guns, missile launchers and precision munitions used by the U.S. Department of Defense and allies worldwide, and provides non-nuclear ship repair, modernization and conversion to the U.S. Navy and other U.S. Government agencies. To learn more about United Defense, visit www.uniteddefense.com.
Forward Looking Statements
Information in this release may involve guidance, expectations, beliefs, plans, intentions or strategies regarding the future. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to United Defense as of the date of the release, and United Defense assumes no obligation to update any such forward looking statements. The statements in this release are not guarantees of future performance and actual results could differ materially from United Defense's current expectations. Numerous factors could cause or contribute to such differences. Such factors include risks and uncertainties specific to this transaction, including but not limited to adverse effects on the market price of the company's common stock and on the company's operating results because of failure to complete the transaction (due to failure to obtain stockholder or regulatory approvals or to satisfy all of the other conditions to the transaction). Please refer to United Defense's Annual Report on Form 10-K for the year ended December 31, 2004 and in its other reports filed from time to time with the Securities and Exchange Commission for a further discussion of the factors and risks associated with its business.