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The Allied Defense Group, Inc.
The Allied Defense Group Announces Divestiture of NS Microwave
August 26th, 2009
The Allied Defense Group, Inc. (NYSE Amex: ADG) announced that it has closed the sale of NS Microwave in an agreement with 3DRS International, Inc. The close of the transaction, in which 3DRS International, Inc. acquired the stock of NS Microwave, was concurrent with the signing of the agreement, effective Friday, August 7th.
Major General (Ret) John J. Marcello, President and Chief Executive Officer of The Allied Defense Group said, "This transaction is another step in our strategic transformation and marks the divestiture of the last non-core asset in our portfolio. The sale of NS Microwave will further enhance our ability to focus our time, attention, and resources on...
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Source: VerticalNews Defense & Aerospace (2009-08-26)