VIENNA, Va., Aug. 2, 2001 (PRIMEZONE) -- Allied Research Corporation (AMEX:ALR), a diversified defense and electronic security firm, today named Chuck Hasper, age 46, as Chief Financial Officer. Mr. Hasper joins Allied Research from CK Capital Partners, an investment-banking firm, where he was a partner in the Washington, D.C. office.
The announcement was made by General (Ret.) J.H. Binford Peay III, Chairman and Chief Executive Officer. General Peay said that Mr. Hasper has a unique combination of domestic and international experience with both medium size and Fortune 500 firms.
"He has broad-based experience in both government and industry that will prove valuable as we expand our portfolio of strategic security businesses, both in defense and commercial markets. Mr. Hasper's experience in financial information systems, SEC requirements, corporate finance, and mergers and acquisition work will strengthen our drive to grow Allied Research prudently for the benefit of our shareholders," General Peay said.
"We are moving rapidly on a course to unlock the tremendous value of Allied Research for our shareholders, and Chuck is the perfect fit to make that happen," General Peay concluded.
Mr. Hasper is a Certified Public Accountant and holds an MBA in Finance from the University of Maryland.
Allied Research Corporation is a diversified defense and commercial electronic security firm, developing and producing conventional ammunition systems marketed to defense departments worldwide, and designing, producing and marketing sophisticated electronic security systems for European, Asian and African markets.
Certain statements contained herein are "forward-looking" statements as such term is defined in the Private Securities Litigation Reform Act of 1995. Because statements include risks and uncertainties, actual results may differ materially from those expressed or implied and include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission.