United Defense Acquires Corrosion Engineering Services, Inc.ARLINGTON, Va. -- United Defense Industries, Inc. (NYSE NYSE
See: New York Stock Exchange :UDI (1) (Unified Display Interface) A digital interface from the United Display Interface SIG that is designed to replace the analog VGA interface common on CRTs and flat panel monitors. UDI is expected to provide backward compatibility with DVI and HDMI interfaces. ) announced today that United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Marine Repair (USMR USMR United States Marine Repair
USMR United States Military Reserve
USMR US Mounted Rifles (Army Mounted troops from the early 1800s) ), its ship repair and modernization subsidiary, has completed the acquisition of Corrosion Engineering Services, Inc. (CES), headquartered in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Calif. CES focuses primarily on corrosion control of U.S. Navy and commercial vessels.
"This acquisition allows USMR to grow our business by expanding into areas such as submarine work. DOD (1) (Dial On Demand) A feature that allows a device to automatically dial a telephone number. For example, an ISDN router with dial on demand will automatically dial up the ISP when it senses IP traffic destined for the Internet. 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 Chula Vista (ch`lə), city (1990 pop. 135,163), San Diego co., S Calif., on San Diego Bay; inc. 1911. , 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 mu·ni·tion
War materiel, especially weapons and ammunition. Often used in the plural.
tr.v. mu·ni·tioned, mu·ni·tion·ing, mu·ni·tions
To supply with 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 Form 10-K
A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.
See 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.