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Armor Holdings, Inc. to Acquire Substantially All of the Assets of Second Chance Body Armor, Inc.

Category: Defence Industry

JACKSONVILLE, Fla., -- Armor Holdings, Inc., a leading manufacturer and distributor of security products and vehicle armor systems serving military, law enforcement, homeland security and commercial markets, announced today that it was the successful bidder at an auction to acquire substantially all of the assets of Second Chance Body Armor, Inc. (Second Chance), a manufacturer of body armor serving the law enforcement and military markets.

The total purchase price is $45 million in cash and includes the assumption of certain liabilities. The transaction, which the Company expects to be meaningfully accretive in 2006, is subject to final approval by the United States Bankruptcy Court, Western District of Michigan and is expected to close on Friday, July 29, 2005.

Second Chance is headquartered in Central Lake, Michigan, with a manufacturing facility based in Geneva, Alabama.

Armor Holdings
01.08.2005

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