18 Jun 14. Lockheed Martin [NYSE: LMT] has entered into a definitive agreement to acquire Deposition Sciences, Inc. (DSI), a provider of thin film coatings. Subject to the satisfaction of customary closing conditions, the acquisition is expected to close within 30 days. The terms of the agreement were not disclosed and are not material to Lockheed Martin operations. DSI will be integrated into the Aeronautics business area. Located in Santa Rosa, California, DSI has approximately 85 employees and is a 100 percent owned subsidiary of Advanced Lighting Technologies, Inc. (ADLT). The company uses various deposition technologies and processes to produce thin film coatings for a variety of industrial applications.
13 Jun 14. Luxfer Holdings PLC (Luxfer Group) (NYSE:LXFR), a global materials technology company, has entered into an agreement to acquire the assets and business of Truetech, Inc. and of Innotech Products, Ltd., private companies operating under similar ownership, for an estimated $64m, representing a multiple of approximately eight times the expected EBITDA for 2014. Closing is subject to required regulatory approvals, including those covering key suppliers to the U.S. military. These approvals are expected to take up to two months. Other Luxfer subsidiaries are already approved suppliers to the U.S. military for other products. Truetech and Innotech produce magnesium-based heating pads for self-heating meals used by the U.S. military and emergency relief agencies; an extensive line of self-heating meals, beverages and soups used by military and civilian end-users; chemical agent detection and decontamination kits; and seawater desalinization kits. Luxfer will combine the businesses of Truetech and Innotech within Luxfer Magtech Inc. (LMI), a new wholly owned subsidiary of Luxfer Group. LMI will operate as part of Luxfer Group’s Elektron Division. Truetech operates a manufacturing and warehousing facility on a company-owned site in Riverhead, New York, and Innotech operates a leased product manufacturing, assembly and distribution facility in Cincinnati, Ohio. The Truetech® Flameless Ration Heater (FRH) is used by U.S. armed forces to heat Meals, Ready-to-Eat (MREs) for troops in the field. Millions of FRHs are supplied annually under a long-term contract to manufacturers of ready-to-eat military meals. Nearly two billion Truetech ® heaters have been supplied to date across all markets. Truetech FRH technology uses no flame or electricity to generate heat. When water reacts with the magnesium-iron heater pad, the FRH releases enough energy to heat a pre-cooked meal in about 10 minutes. Spent heaters are non-toxic and biodegradable. Truetech and Innotech also offer food and beverage products for civilian markets. These include four lines of self-heating HeaterMeals® that contain nutritional entrees, snacks, desserts and juices. The companies also market Café2Go® Self-Heating Beverage kits for making hot coffee, tea, cocoa and soups, including brand-name varieties from Nestle® and Unilever®. Because all of these products require no refrigeration and have useful shelf lives, they are used for outdoor activities, emergency preparedness and disaster relief. End-users include the U.S. Department of Homeland Security; the Federal Emergency Management Agency (FEMA); first responders at federal, state and local levels; non-governmental disaster-relief agencies, including the Red Cross; campers, hikers, hunters, climbers and other outdoor enthusiasts; and workers at remote construction sites. Government Food Service magazine has named HeaterMeals (Innotech) in its list of top U.S. Government food suppliers. Truetech also designs and produces a line of chemical detection and decontamination products. Originally designed for military use, the latest generation of these products is now also used by civilian agencies to detect and identify chemical agents and to clean up contamination. End-users include military personnel,