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Business/Financial

Chemring Plans To Acquire U.S. Firm Hi-Shear Technology

DDN

Thursday, September 17th, 2009

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By Calvin Biesecker Britain's Chemring Group PLC yesterday said it has greed to acquire Los Angeles-based Hi-Shear Technology Corp. [HSR] for $132 million in cash, a deal which complements its capabilities in energetic solutions and extends its footprint in the United States. Chemring, which already supplies a range of linear explosives using in stage separation, said it would be able to grow Hi-Shear's U.S. position in energetics for space and satellite separation by accessing European satellite manufacturers. The company also…

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