Dynamic Materials' Evaluation of Goodwill Reveals No Impairment at Company's Oilfield Products Segment
March 13 2009 - 8:48AM
Marketwired
Dynamic Materials Corporation (DMC) (NASDAQ: BOOM), the world's
leading provider of explosion-welded clad metal plates, today
reported that the previously disclosed evaluation of goodwill
associated with the Company's Oilfield Products segment has
determined that there was no goodwill impairment during the fiscal
year ended December 31, 2008.
Additional information regarding the recent goodwill testing
process, as well as planned future evaluations, is available in the
Company's fiscal 2008 annual report on Form 10-K, which was filed
today with the Securities and Exchange Commission.
About Dynamic Materials Corporation
Based in Boulder, Colorado, Dynamic Materials Corporation is a
leading international metalworking company. Its products, which are
typically used in industrial capital projects, include
explosion-welded clad metal plates and other metal fabrications for
use in a variety of industries, including oil and gas,
petrochemicals, alternative energy, hydrometallurgy, aluminum
production, shipbuilding, power generation, industrial
refrigeration and similar industries. The Company operates three
business segments: Explosive Metalworking, which uses proprietary
explosive processes to fuse different metals and alloys; Oilfield
Products, which manufactures, markets and sells specialized
explosive components and systems used to perforate oil and gas
wells; and AMK Welding, which utilizes various technologies to weld
components for use in power-generation turbines, as well as
commercial and military jet engines. For more information, visit
the Company's websites at http://www.dynamicmaterials.com and
http://www.dynaenergetics.de.
CONTACT: Pfeiffer High Investor Relations, Inc. Geoff High
303-393-7044
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