one of the 3 that Joel spoke of on the conf call
Ceradyne in First Phase of Arrow Missile System Ceramic Radome Contract; Company Awarded Initial Funding, Anticipates Production Contract
BUSINESS WIRE - May 08, 2003 07:30
COSTA MESA, Calif., May 8, 2003 (BUSINESS WIRE) -- Ceradyne, Inc. (Nasdaq:CRDN) has been awarded initial facilitization and qualification funding of approximately $600,000 by The Boeing Company and Israel Aircraft Industries (IAI).
This award is related to production of the ceramic radome (nose cone) assembly for the Arrow Missile System, a defensive missile interceptor system. It is anticipated that this first phase will be followed by component production contracts, under which Ceradyne would be the subcontractor to Boeing, which is the U.S.-based co-producer of the system. Ceradyne estimates the value of the potential contract to be $10 million over a four- to five-year period, which would commence in late-2004.
"We have been working on this project for a number of years, and Boeing and IAI's selection of Ceradyne is a culmination of these efforts," said Earl Conabee, Ceradyne vice president. Ceradyne's Thermo Materials division in Scottdale, Georgia, would be the production site of the radome assemblies. |
