Day & Zimmermann to Acquire American Ordnance
PHILADELPHIA, PA, January 2, 2007… Day & Zimmermann, a nationally recognized provider of products and outsourcing solutions for government and commercial customers, announced today that it has agreed to acquire General Dynamics Ordnance and Tactical Systems' interest in American Ordnance, a premier manufacturer and supplier of ammunition to the United States military. General Dynamics Ordnance and Tactical Systems is a business unit of the Falls Church, Va.-based General Dynamics(NYSE: GD).
The transaction, which is subject to regulatory approval, is expected to close in the first quarter of 2007.
American Ordnance, now owned jointly by General Dynamics and Mason & Hanger (a Day & Zimmermann company), provides a broad spectrum of training and tactical ammunition for today's military. With production facilities at the Milan Army Ammunition Plant in Western Tennessee and the Iowa Army Ammunition Plant near Burlington, Iowa, American Ordnance is an industry leader in the production of medium to large caliber ammunition and other explosives. Other core competencies include renovation, maintenance and demilitarization of specific ammunition and explosive equipment.
"We are very pleased to be able to acquire full ownership of American Ordnance, a highly respected company with a talented workforce and a reputation for quality production," said Hal Yoh, Chairman and CEO of Day & Zimmermann. "Together with the extraordinary talent and capabilities at our existing munitions operations in Texarkana, TX, Parsons KS and Hawthorne, NV, we have strengthened our ability to serve our valued customers," said Mr. Yoh. "We hope that General Dynamics, although departing as our partner in American Ordnance, will continue to be one of those valued customers for a long time to come."
About Day & Zimmermann Munitions & Defense
Day & Zimmermann Munitions & Defense manufactures, stores and demilitarizes ammunition products and provides related services to the United States Departments of Defense and Energy and to United States-approved foreign governments. Day & Zimmermann also delivers full-service government facilities management that includes base operations, equipment management, environmental services, housing management and security. With more than 50 years of experience in the production and demilitarization of conventional munitions, as well as the successful operation of vast military and government complexes, Day & Zimmermann has a deep understanding and commitment to our role supporting mission-critical services. For more information, visit dayzim.com.
About Day & Zimmermann:
Day & Zimmermann accelerates customer success by delivering diversified services. Operating from more than 150 worldwide locations with 1.7 Billion USD in revenues, the Day & Zimmermann family of companies employs 20,000 professionals and is currently ranked as one of the largest private companies in America by Forbes and is a former winner of the U.S. National Family Business of the Year award. Founded in 1901 and headquartered in Philadelphia, PA, Day & Zimmermann companies today provide staffing services, architectural-engineering-construction services, power plant maintenance and modification services, security services, and validation services to businesses and government agencies, and munitions production, equipment maintenance and facilities management services to the Department of Defense. For more information visit http://www.dayzim.com/.
