25 November 2009
Chemring Group PLC announces that it has successfully completed its acquisition of Hi-Shear Technology Corporation (“Hi-Shear”), having received the necessary approvals. The acquisition was first announced on 16 September 2009.
Hi-Shear, based in Los Angeles, USA, is a leading manufacturer of high reliability energetic solutions that perform critical functions in key US space and defence programmes, including satellites, space launch vehicles, missile defence and aircrew egress. Its products include low shock pyrotechnic satellite separation systems, space-qualified initiators, electronic missile safe/arm devices and acoustic initiators for underwater explosive ordnance disposal (EOD) applications.
For further information:
| Dr David Price |
Chief Executive, Chemring Group PLC |
01489 881880 |
| Paul Rayner |
Finance Director, Chemring Group PLC |
01489 881880 |
| Rupert Pittman |
Cardew Group |
020 7930 0777 |