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Business/Financial

The Allied Defense Group Divests Remaining Electronic Security Business

DDN

Tuesday, August 11th, 2009

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The Allied Defense Group [ADG] yesterday said it has sold its NS Microwave business unit to 3DRS International Inc., completing the divestiture of its Electronic Security division begun last fall with the sale of its Global Microwave Systems subsidiary to Britain's Cobham. Terms of the deal, which was concluded last Friday, were not disclosed. ADG is focusing on its ammunition business. Moreover, the sale will give ADG additional cash to fund its working capital requirements to meet the needs of…

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