General Dynamics has entered into a definitive agreement with
Chamberlain Manufacturing Corporation (CMC) to acquire CMC's
Scranton, Pennsylvania, division, a manufacturer of artillery projectiles and 120mm mortar bodies. CMC is a wholly owned subsidiary of Duchossois Industries. Terms of the acquisition were not disclosed.
The acquisition has been approved by the boards of directors of both companies and is subject to normal regulatory approval. General Dynamics expects the transaction to be completed in the third quarter of 2006.
CMC's Scranton operation, which has approximately 400 employees, is a leading supplier of large-calibre projectile metal parts to the US government, including forged bodies for 105mm artillery, 120mm mortars and 155mm artillery ammunition.
The Scranton operation will become part of the General Dynamics Ordnance and Tactical Systems business unit, which manufactures large- and medium-calibre direct- and indirect-fire munitions, bomb bodies and General Dynamics’ Ball Powder propellant. General Dynamics also manufactures precision metal components and designs and produces shaped-charge warheads and control actuator systems.
PMI falls as manufacturers feel the squeeze
17 months or two and a half years - which is it?