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Article: The Allied Defense Group, Inc. Closes Sale of Titan Dynamics Systems, Inc.
- Article from:
- PR Newswire
- Article date:
- March 18, 2008
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VIENNA, Va., March 18 /PRNewswire-FirstCall/ -- The Allied Defense Group, Inc. announces it has closed the previously announced sale of its Marshall, Texas subsidiary, Titan Dynamics Systems, Inc. in a stock purchase agreement with Chemring Group PLC. Chemring is a specialist manufacturer of decoy countermeasures and energetic materials for the global defense, security and safety markets.
Allied Defense Group received $4.75 million in this transaction.
Major General (Ret) John J. Marcello, President and Chief Executive Officer of The Allied Defense Group said, "The completion of the sale of Titan Dynamics represents another step in our strategic plan to ...