The notes were issued in June and
Major General (Ret)
"As ADG transforms itself to an ammunition-only business, we have now shed one of the most significant impediments to our profitability; debt and the interest charges associated with it. In 2008 interest payments on this debt amounted to approximately
"The fundamentals of our Company are strong and getting stronger. Our transformation continues. Given the Company's very large funded backlog, our strong internal growth, the reduced debt and improved cash position, management remains very positive about the future of ADG. We are making sustained, solid progress and we are enthused about the future," concluded Major General Marcello.
About The Allied Defense Group, Inc.
The Allied Defense Group, Inc. is a diversified international defense and security firm which: develops and produces conventional medium caliber ammunition marketed to defense departments worldwide; designs, produces and markets sophisticated microwave security systems; and manufactures battlefield effects simulators and other training devices for the military. For more Information, please visit the Company web site: www.allieddefensegroup.com.
Certain statements contained herein are "forward looking" statements as such term is defined in the Private Securities Litigation Reform Act of 1995. Because statements include risks and uncertainties, actual results may differ materially from those expressed or implied and include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission.
For More Information, Contact: Jim Drewitz Investor Relations 830-669-2466
SOURCE The Allied Defense Group, Inc.