Reinhold Industries, Inc. Receives New Orders Worth $37 Million
27 Dezember 2004 - 5:31PM
PR Newswire (US)
Reinhold Industries, Inc. Receives New Orders Worth $37 Million
SANTA FE SPRINGS, Calif., Dec. 27 /PRNewswire-FirstCall/ --
Reinhold Industries, Inc. (NASDAQ:RNHDA) of Santa Fe Springs,
California, announced today that the Company had received new
orders totaling approximately $37 million during the last month. A
$15 million contract was awarded by ATK Thiokol Propulsion Company,
Promontory, Utah, for components related to the Air Force's
Minuteman III Propulsion Replacement Program ("PRP"). ATK Thiokol
Propulsion Company is an operating company of Alliant Techsystems.
The PRP replaces the stage 1, 2 and 3 solid rocket motors in the
Minuteman III force with new remanufactured motors to maintain the
alert readiness status of the force through 2020. ATK Thiokol is
remanufacturing the motors and replacing propellant and obsolete or
unsafe materials and components in the Minuteman III force. NP
Aerospace Ltd., the Company's wholly-owned subsidiary located in
Coventry, England, was awarded a 6 million pounds Sterling
(approximately $11.5 million at today's exchange rate) contract by
the British Ministry of Defence for the refurbishment and retrofit
of a fleet of light armored vehicles for the British Army. The
project includes the replacement of the vehicle chassis and
powertrain. NP Aerospace Jordan, a 51% owned subsidiary of NP
Aerospace Ltd., was awarded a 5.5 million pounds Sterling
(approximately $10.5 million at today's exchange rate) contract by
the Jordanian Armed Forces for 50,000 ballistic helmets. The
helmets will be manufactured over the next two years in both
England and in NP Aerospace Jordan's new facility in Jordan. "We
are very excited about the opportunity to participate in these
programs," said Michael T. Furry, President and CEO of Reinhold.
"The Minuteman PRP is in its fourth year of full rate production.
We expect that this program will continue through 2008. In England,
we are replacing the chassis and powertrains on vehicles which were
originally built by NP Aerospace's predecessor in the early 1990's.
Our new joint venture, NP Aerospace Jordan, gives us a marketing
presence for our full range of ballistic products and a low cost
manufacturing base in the Middle East. We expect that manufacturing
of ballistic helmets will begin in the fourth quarter of 2005."
Reinhold Industries, Inc. is a manufacturer of advanced custom
composite components and sheet molding compounds for a variety of
applications in the United States and Europe. SPECIAL NOTE
REGARDING FORWARD-LOOKING STATEMENTS To the extent the Company
makes certain "forward-looking statements" in this press release,
such as statements about future plans, goals and other events which
have not yet occurred, such statements are intended to qualify for
the safe harbors from liability provided by the Private Securities
Litigation Reform Act of 1995. Forward-looking statements can
generally be identified because they include words such as the
Company "believes," "anticipates," "expects" or words of similar
import. These forward-looking statements involve risks and
uncertainties and the actual results could differ materially from
those discussed in the forward-looking statements. These risks and
uncertainties include, without limitation, risks associated with
levels of U.S. and foreign military spending, currency fluctuations
and the financial condition of the airline industry. You should
consider these risks and factors and the impact they may have when
you evaluate these forward-looking statements. These statements are
based only on the Company's knowledge and expectations on the date
of this press release. The Company disclaims any duty to update
these statements or other information in this press release based
on future events or circumstances. DATASOURCE: Reinhold Industries,
Inc. CONTACT: Judy Sanson of Reinhold Industries, Inc.,
+1-562-944-3281
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