Groupe SNPE Terminates Negotiations Regarding the Restructuring of Its Ownership in DMC
April 22 2004 - 6:00PM
PR Newswire (US)
Groupe SNPE Terminates Negotiations Regarding the Restructuring of
Its Ownership in DMC BOULDER, Colo., April 22
/PRNewswire-FirstCall/ -- Dynamic Materials Corporation, , "DMC",
today reported that it has been advised by Groupe SNPE, which owns
a 54% interest in DMC through a U.S. subsidiary, SNPE, Inc., that
Groupe SNPE has terminated negotiations with Sagard, a French
investment fund, that were the subject of a previously announced
Memorandum of Understanding. On October 6, 2003, DMC had announced
that Groupe SNPE and Sagard had agreed to form a new U.S. holding
company to hold Groupe SNPE's ownership interest in DMC, with each
party to own a 50% interest in the new holding company. Based in
Boulder, Colorado, Dynamic Materials Corporation is a leading
metalworking company, and its products include explosion bonded
clad metal plates and other metal fabrications for the
petrochemical, chemical processing, power generation, commercial
aircraft, defense and a variety of other industries. For more
information on Dynamic Materials Corporation visit the Company's
web site at http://www.dynamicmaterials.com/ DATASOURCE: Dynamic
Materials Corporation CONTACT: Richard A. Santa, Vice President and
Chief Financial Officer of Dynamic Materials Corporation,
+1-303-604-3938 Web site: http://www.dynamicmaterials.com/
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