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ADG Shareholders Clear Way For Chemring Purchase

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Britain's Chemring Group is expected to close its acquisition of The Allied Defense Group [ADG] today after ADG's stockholders yesterday voted to authorize the sale of their company. Chemring in January announced that it had agreed to acquire ADG for $59 million to expand its ammunition products and related services. Under the asset purchase, Chemring will be acquiring ADG's Belgium-based Mecar SA, a provider of medium and large caliber ammunition, particularly for light armored vehicles, and Texas-based Mecar USA, which…

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