ReinholdPens 37 Million dollars in New Contracts

摘要

Custom composite and sheet molder Reinhold Industries Inc. has received two new defense orders worth 37 million dollars. It sold its Samuel Bingham Enterprises Inc. operation, and declared a special 11.75/share dollars shareholder dividend. The new contracts are a significant addition to Reinhold's 2003 revenue of 67 million dollars. The company penned a 15 million dollars deal with ATK Thiokol Propulsion Co. for components for the Air Force's Minuteman III propulsion replacement program. The program is replacing all three stages of the Minuteman III with remanufactured motors to ensure the missile remains ready to fire through 2020. The program, in its fourth year of full-rate production, is slated to last through 2008. Its UK subsidiary, Reinhold NP Aerospace Ltd., won an 11.5 million dollars contract from the UK Defense Ministry to refurbish the chassis and powertrain of a fleet of light armored vehicles.