Special Devices, Inc.

Special Devices, Inc. designs and manufactures highly reliable pyrotechnic devices. The company operates through two main divisions viz., automotive products and aerospace division. The Company's products are used by the automotive industry as initiators in airbag systems and the aerospace industry, primarily in tactical missile systems, spacecraft launch vehicles, propellants, explosives and military aircraft crew ejection systems. Production of the company's products consists of fabricating and assembling the hardware components and separately preparing the pyrotechnic charge. The customers for the company's products are the US Government and others. Automotive products accounted for 80% of 1997 revenues and aerospace, 20%.