Ceradyne to Develop Light Armor for Marine Corps
<i> Dow Jones</i>
Ceradyne Inc., a Costa Mesa manufacturer of high-tech ceramics for military and industrial uses, said Tuesday it received a Defense Department research contract to begin development of a lightweight ceramic armor system for the Marine Corps’ advanced amphibious assault vehicle.
The Phase 1 contract is worth $70,000, and Ceradyne said it expects to receive a Phase II contract as well for further development and optimization of the system.
Phase II contracts typically last two years and have a value in the range of $700,000, the company said.
The news helped Ceradyne’s stock become one of the biggest movers in the Nasdaq market, with a gain of 13.3%, or 56 cents a share, to close at $4.75.
