Ceradyne, Inc. (NASDAQ: CRDN) announced it has received a contract for a newly designed lightweight ceramic armor system for groin armor protection inserts (GAPI). The first article testing (FAT) is scheduled to ship in Q3 with the initial production order scheduled shortly thereafter. The value of the FAT and initial order is approximately $658,000. The balance on the contract of $5,888,000 may be shipped at the government's discretion over a period through August 8, 2017.
David Reed, Ceradyne President of North American Operations, commented: "We are pleased that the U.S. Army has selected Ceradyne for this new armor design. We continue to believe our lightweight boron carbide/composite system offers our soldiers the state-of-the-art weight and ballistics on the battlefield."
Source: Ceradyne, Inc. (NASDAQ:CRDN)
Date: Aug 14, 2012