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Allied Research

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BUSINESS
October 29, 1992
This Baltimore-based ammunition maker, which also supplies defense engineering services, posted higher third-quarter earnings, the company said yesterday. Allied Research credited a 39 percent jump in revenues for much of the gain and predicted continued strong results.Chairman Reinald W. Carter said the third-quarter and nine-month results were in line with expectations, and results for the full year "should be good, ahead of the $3.38 [per share] earned in 1991."Three months ended 9/30/92.
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BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | April 19, 1996
Human Genome Sciences, the Rockville company attempting to map the entire human genetic code, said yesterday it has landed European pharmaceutical giant Merck KGaA as another strategic partner to develop and commercialize new drugs from its genomic research.The alliance includes SmithKline Beecham, the world's ninth largest drug maker, which has been collaborating on research with Human Genome since 1993.The latest deal creates a three-company research powerhouse focused on targeting an array of diseases and ailments to develop new vaccines and drugs based on genetic research, industry analysts said.
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NEWS
November 23, 1990
Marvin B. Ruffin, chairman of Allied Research Corp., a Severna Park-based defense contractor, died Nov. 16 at Johns Hopkins Hospital after a long illness. He was 72.A memorial service for Mr. Ruffin, who was a resident of Severna Park, will be held at 1:30 p.m. Dec. 11 in St. Andrew's Chapel at the Naval Academy in Annapolis.Mr. Ruffin was hired as chairman in 1971 to aid a firm then called Allied Research Associates, which was riddled with financial and administrative problems.Spearheading the conglomerate's operation, Mr. Ruffin revived ARA and its subsidiaries, MECAR S.A., a Belgian weapons manufacturer, and Barnes & Reinecke Inc. of Elk Grove, Ill.Under his leadership, MECAR developed the first bullet trap rifle grenade, now in use in some 35 countries.
BUSINESS
June 21, 1994
Caterpillar faces strike tonightTalks broke down between Caterpillar Inc. and the United Auto Workers yesterday, and union officials said 14,000 workers would strike tonight."
BUSINESS
By David Conn and David Conn,Staff Writer Bloomberg Business News contributed to this article | August 17, 1993
Defense manufacturer Allied Research Corp. ended months of speculation yesterday by accepting an $87.4 million buyout offer from Malcolm I. Glazer, a Florida investor and would-be Baltimore football magnate.The $19-a-share deal is contingent on further financial examination by Mr. Glazer's investment company, First Allied Corp., which signed the merger agreement with Allied Research yesterday.The deal also requires approval from the Federal Trade Commission, the Securities and Exchange Commission and Allied Research shareholders.
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | April 7, 1992
Allied Research Corp., a Baltimore-based defense contractor, bTC has named former Grumman official Jay R. Sculley president and chief operating officer.Mr. Sculley takes over positions held by Reginald W. Carter, who was promoted to chairman of the board. Mr. Carter remains chief executive officer. The previous chairman, Marvin B. Ruffin, died Nov. 16, 1990. Both appointments were effective yesterday.Allied, which once had manufacturing operations in the Baltimore area, has only five employees here now. Its main plant, with 391 employees, is near Brussels, Belgium, and produces ammunition and rifle grenades, said Richard Farrell, a company spokesman.
BUSINESS
By Ted Shelsby | April 17, 1991
Officials of Allied Research Corp., a small, Baltimore-based defense contractor, are puzzled by the recent action of the company's largest stockholder, an investor from Saudi Arabia."
BUSINESS
February 29, 1992
Allied Research Corp., a Baltimore-based defense contractor, reported record earnings in 1991, driven by sales to foreign countries.Reinald W. Carter, president and chief executive officer, said the dramatic increase in earnings reflected the company's new strategy of focusing on products with short-term payoffs, expanding automated production and controlling costs.Company spokesman Richard Farrell said Allied Research benefited from increased orders for ammunition from Third World countries.
BUSINESS
By Ted Shelsby and Ted Shelsby,Staff Writer | June 4, 1993
Shareholders of Allied Research Corp. were left in suspense yesterday when the company disclosed that its board is considering a buyout proposal higher than the $16.50 a share offer it received in mid-April.Jay R. Sculley, chairman and chief executive of the munitions maker, told shareholders at its annual meeting here that the board had received a bid higher than the previously announced $75 million acquisition proposal from Florida businessman Malcolm L. Glazer.Although he declined to identify the source of the higher bid, Mr. Sculley hinted that Mr. Glazer had upped the ante.
BUSINESS
By Ted Shelsby | May 29, 1991
A year ago this week, directors of Baltimore-based Allied Research Corp. elected Reinald W. Carter chief executive and assigned him the task of turning around a company that had struggled much of the past decade to stay alive.In the words of Marvin B. Ruffin, the small defense contractor's chairman who has since died, it was a case of "throw him to the wolves and hold him responsible."Allied hadn't posted a profit since 1987 and had chalked up a string of eight red-ink quarters.But that was then.
BUSINESS
By David Conn and David Conn,Staff Writer Bloomberg Business News contributed to this article | August 17, 1993
Defense manufacturer Allied Research Corp. ended months of speculation yesterday by accepting an $87.4 million buyout offer from Malcolm I. Glazer, a Florida investor and would-be Baltimore football magnate.The $19-a-share deal is contingent on further financial examination by Mr. Glazer's investment company, First Allied Corp., which signed the merger agreement with Allied Research yesterday.The deal also requires approval from the Federal Trade Commission, the Securities and Exchange Commission and Allied Research shareholders.
BUSINESS
By Ted Shelsby and Ted Shelsby,Staff Writer | June 4, 1993
Shareholders of Allied Research Corp. were left in suspense yesterday when the company disclosed that its board is considering a buyout proposal higher than the $16.50 a share offer it received in mid-April.Jay R. Sculley, chairman and chief executive of the munitions maker, told shareholders at its annual meeting here that the board had received a bid higher than the previously announced $75 million acquisition proposal from Florida businessman Malcolm L. Glazer.Although he declined to identify the source of the higher bid, Mr. Sculley hinted that Mr. Glazer had upped the ante.
BUSINESS
By Ted Shelsby and Ted Shelsby,Staff Writer | April 13, 1993
Malcolm I. Glazer, the Palm Beach, Fla., businessman who heads one of the three groups vying for a National Football League franchise in Baltimore, has made a preliminary offer to buy Allied Research Corp., a city-based munitions company, for $16.50 a share.Allied, which supplies ammunition primarily to Middle East countries, announced yesterday that the approximately $75 million offer was made in an unsolicited letter received Friday. The letter stipulated that the proposed transaction would be subject to the endorsement and support of Allied's board.
BUSINESS
By Bloomberg Business News | April 7, 1993
Allied Research Corp. said it has lowered to 10 percent, from 25 percent, the ownership stake that triggers its "poison pill" rights offering."We realized the plan was not adequately protecting shareholder values," said Richard Farrell, a spokesman for the ammunition maker, which has its headquarters in Baltimore. He said Allied was worried that an investor could gain undue leverage with a partial tender offer just below the 25 percent threshold.The company closed yesterday at $13.125 a share, up 12.5 cents.
BUSINESS
By Ted Shelsby and Ted Shelsby,Staff Writer | January 29, 1993
Allied Research Corp., a Baltimore-based company that has built much of the ammunition and artillery shells stored in bunkers around the world, said yesterday that it had created a division to help dispose of the military waste.The new subsidiary, ARC Services Inc., will also be involved in the cleanup of industrial waste.The business of munitions dismantling and environmental cleanup could be worth billions of dollars and represents a natural extension of Allied's munitions production, said Jay R. Sculley, president and chief executive of Allied Research.
BUSINESS
By Bloomberg Business News | November 19, 1992
HP earnings drop, but stock risesHewlett-Packard Co. yesterday reported a 46 percent plunge in its latest quarterly earnings, saying its results were squeezed by restructuring costs, competitive pressures and product changeovers.But Hewlett-Packard shares rose sharply, closing up $3.375, to $58.75, as the company said orders were strong for many of its products. The company said its sales climbed to $4.3 billion, from $3.8 billion in the fourth quarter of last year. It said its results also included a pre-tax restructuring charge of $137 million to cover job cuts.
BUSINESS
By Bloomberg Business News | April 7, 1993
Allied Research Corp. said it has lowered to 10 percent, from 25 percent, the ownership stake that triggers its "poison pill" rights offering."We realized the plan was not adequately protecting shareholder values," said Richard Farrell, a spokesman for the ammunition maker, which has its headquarters in Baltimore. He said Allied was worried that an investor could gain undue leverage with a partial tender offer just below the 25 percent threshold.The company closed yesterday at $13.125 a share, up 12.5 cents.
BUSINESS
October 29, 1992
This Baltimore-based ammunition maker, which also supplies defense engineering services, posted higher third-quarter earnings, the company said yesterday. Allied Research credited a 39 percent jump in revenues for much of the gain and predicted continued strong results.Chairman Reinald W. Carter said the third-quarter and nine-month results were in line with expectations, and results for the full year "should be good, ahead of the $3.38 [per share] earned in 1991."Three months ended 9/30/92.
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