Letter Of Intent Signed By SPD To Acquire Dyncorp Unit

SPD Technologies has announced the signing of a letter of intent for the acquisition of the ship repair division of Pac Ord, Inc., a wholly owned subsidiary of Dyncorp.

In announcing the move, SPD president George M. Gordon said the addition of Pac Ord's five service and repair facilities will make SPD the leading independent repair specialist of shipboard equipment in the U.S.

Pac Ord, which has facilities in Seattle, Wash., San Diego, Calif., Portland, Ore., Jacksonville, Fla., and Norfolk, Va., has about 200 employees and annual sales of approximately $12 million.

The unit provides repair and overhaul services for shipboard communications systems, weapons systems, air traffic control systems, sonar, radar and antenna systems, electronic warfare hardware and electrical equipment.

With the acquisition, SPD would be able to provide on-site repair and overhaul facilities at all primary U.S. Navy homeports.

The Pac Ord transaction would mark SPD's second major acquisition since becoming an independent operating company as a result of a management buyout from Gould Inc. in 1987.

The transaction is expected to be consumated shortly, according to Mr. Gordon.

SPD Technologies is an international leader in the design, development and manufacture of advanced electronically controlled electrical protection equipment for military applications and other harsh operating environments. The company has service, repair and overhaul facilities across the U.S. and serves military markets throughout the world.

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Maritime Reporter Magazine, page 32,  Jan 1989 South America

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First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.