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Business/Financial

ADG Closes Sale of Titan Dynamics Business To Chemring Group

DDN

Thursday, March 20th, 2008

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The Allied Defense Group [ADG] this week said it has completed the sale of its Texas-based Titan Dynamics Systems subsidiary to Chemring Group PLC for $4.8 million as part of an ongoing effort to divest non-core assets and reduce debt. For United Kingdom-based Chemring, which specializes in the manufacture of decoy countermeasures and energetic materials, the acquisition builds on its current capabilities in conventional and cartridge-based military training pyrotechnics and adds the ability to design, qualify and manufacture launchers that…

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