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ARC Buys Dutch Pyrotechnics Maker (Nov. 7)



VIENNA, Va.--- Allied Research Corporation announces it has signed an agreement to acquire Eugene Hendrickx N.V., a prominent ISO 9002 European manufacturer of custom pyrotechnic products and components, in a cash transaction that is expected to close on or before December 31, 2002.

The acquisition of Hendrickx will assure a stable supply of a variety of custom and proprietary pyrotechnic formulations and components used by MECAR S.A., Allied Research's Belgian ammunition manufacturing firm.

Hendrickx also provides a wide array of non-ammunition pyrotechnic components and products for other European firms. Products include signal flares, smoke generators, delays, rocket igniters, tracers, and primers.

To maximize efficiency and safety, Hendrickx's development, test, and manufacturing facilities will eventually be relocated from Bergen-op-Zoom, Netherlands, to MECAR's location near Brussels, Belgium.

This acquisition is not expected to be material to Allied Research's consolidated operations.

General (Retired) J.H. Binford Peay, III, Chairman, President and CEO of Allied Research said, "Hendrickx is a welcome addition to the Allied Research team. It has a far-reaching history of expertise in the field, dating back to the 1800s. In addition to introducing Allied Research to the pyrotechnic markets, the acquisition of Hendrickx will be beneficial to MECAR, since its long-standing role as a key supplier to MECAR is assured into the future."

Allied Research Corporation is a diversified defense and security firm, developing and producing conventional ammunition, sophisticated security systems, innovative training and simulation products, and mission-critical safety and environmental products, for markets in Europe, Asia, Africa, Antarctica, North America and South America.

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Allied Research Agrees to Acquire Hendrickx N.V., Prominent European Pyrotechnics Manufacturer