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Dynamic Materials Corporation Declares Cash Dividend
BOULDER, Colo., June 6 /PRNewswire-FirstCall/ -- Dynamic Materials Corporation
(DMC) (NASDAQ:BOOM), the world's leading provider of explosion- bonded clad
metal plates and associated services, today announced that the board of
directors has declared an annual cash dividend of $0.20 per share. The dividend
will be paid to stockholders of record at the close of business on June 24,
2005.
Yvon Cariou, president and CEO, said, "DMC's long-term stockholders have
benefited from the record financial performance we have achieved in recent
quarters. Groupe SNPE, our majority stockholder, has informed us of its intent
to convert a $1.2 million note previously issued by the Company into 200,000
shares of DMC common stock. This debt conversion will reduce our term debt by
approximately 25% and further enhance our financial strength."
After the debt conversion transaction is completed later this month, Groupe
SNPE will own approximately 52% of DMC's shares.
"We are very pleased with our recent performance and remain fully committed to
the continued growth of our business," Cariou said. "As I have mentioned
previously, we see a broad range of expansion opportunities before us and
believe we are well positioned to pursue them."
At the Company's Annual Meeting held June 3, 2005, DMC stockholders approved
the election of all nominees to the board of directors. The nominees included
Mr. Bernard Zeller, who joins the board this year and is currently senior vice
president of strategy and development of Groupe SNPE.
About Dynamic Materials Corporation
Based in Boulder, Colorado, Dynamic Materials Corporation is a leading
international metalworking company. Its products include explosion-bonded clad
metal plates and other metal fabrications for use in a variety of industries,
including petrochemicals, refining, hydrometallurgy, aluminum smelting and
shipbuilding. The Company operates two business segments: the Explosive
Metalworking Group, which uses proprietary explosive processes to fuse
dissimilar metals and alloys, and AMK Welding, which utilizes various
technologies to weld components for use in power-generation turbines, as well
as commercial and military jet engines. With more than 30 years of
international experience, DMC has captured a commanding share of the worldwide
market for explosion-bonded clad metals. For more information, visit the
Company's website at http://www.dynamicmaterials.com/ .
Except for the historical information contained herein, this news release
contains forward-looking statements that involve risks and uncertainties
including, but not limited to, the following: the ability to obtain new
contracts at attractive prices; the size and timing of customer orders;
fluctuations in customer demand; competitive factors; the timely completion of
contracts; the timing and size of expenditures; the timely receipt of
government approvals and permits; the adequacy of local labor supplies at the
Company's facilities; the availability and cost of funds; and general economic
conditions, both domestically and abroad; as well as the other risks detailed
from time to time in the Company's SEC reports, including the report on Form
10-K for the year ended December 31, 2004.
DATASOURCE: Dynamic Materials Corporation
CONTACT: Geoff High of Pfeiffer High Investor Relations, Inc.,
+1-303-393-7044
Web site: http://www.dynamicmaterials.com/