general corporate info
just a snippet:
The Carlyle Group owns 49.5% of United Defense, whose directors include former government heavyweights Frank Carlucci (Defense) and John M. Shalikashvili (Joint Chiefs).
http://www.hoovers.com/united-defense-industries,-inc./--ID__54482--/free-co-factsheet.xhtmlinfo on ipo and profit to Carlyle
http://www.bailoutwatch.org/crusader.htmexcerpt:
One of the biggest projects that United Defense Industries (UDI) is counting on is the Crusader Artillery System. The system is a self-propelled 155mm howitzer with a resupply vehicle and was intended to be the fastest firing and most accurate field artillery piece ever, but has run into serious problems concerning its weight that seemed certain to lead to its demise. UDI also built the Bradley Fighting Vehicle and the two programs combined for 41 percent of UDI's sales in 2001.
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On Sept. 26 UDI signed a $665 million contract with the Army through April 2003 to complete the development phase of the Crusader. In the fiscal year 2002 defense appropriations bill that passed Congress Dec. 13 and the president signed in January, the Crusader received more than $487 million.
Now Carlyle and the Crusader face their toughest challenge. Recently, Secretary Rumsfeld announced that the program would be canceled. In a show of how difficult it can be to kill a defense project, the full House approved the $475 million proposed by the president for the Crusader for FY2003. The Senate Armed Services Committee also left the Crusader money in their authorization bill saying it would wait to hear from Secretary Rumsfeld before making a final decision.
Some defense analysts feel that even though the Crusader does not fit into plans for transforming the military, it placates some Pentagon officials who are resistant to change. Even if the project is canceled, UDI has already received $2 billion from the program and would receive more to shut it down.
<snip>
In late October Carlyle Group filed an initial public offering (IPO) for UDI. The IPO conveniently took place one day after Congress approved the defense appropriations bill and raised $237 million. Carlyle officials said they were looking for an exit strategy from ownership of UDI and some analysts said that the IPO was part of that strategy. In its Securities and Exchange Commission filing, UDI said 16 percent of its revenue in 2000 was from the Crusader.
...much more info at link...