Allied Defense Group: Turnaround Progress

Allied Defense Group (ADG) is nearing completion of its 2-year turnaround from a company facing significant liquidity issues due to a lack of corporate focus (i.e. too many acquisitions and too much concentration on one client) to one that is able to fully concentrate on its core ammunition business across the globe.

In the beginning of 2007, the company had several divisions which took management focus away from concentrating on key initiatives: 1) Ammunition division- This included MECAR, MECAR USA, Allied Technology and Titan, 2) Electronic Security- VSK Group (access control, intrusion protection), CMS, NSM (industrial and law enforcement security products) and GMS (miniature digital transmitters and receivers and equipment for surveillance) and 3) What they termed 'other,' which included their environmental safety and security segment termed Seaspace. The comp