Business
Allen-Vanguard announces $3 million in follow-on orders from Lockheed Martin for Electronic Counter-Measures (ECM) equipment
Allen-Vanguard announces $3 million in follow-on orders from Lockheed Martin for Electronic Counter-Measures (ECM) equipment.
About this update from Verisante Technology, Inc.
[{"type":"text","content":"\n\n\n\n- Lockheed begins exercise of $22 million option\n- Latest ECM incorporates significant technology enhancements to\n drive further orders\n\n\nOTTAWA, March 14 /CNW Telbec/ - Allen-Vanguard Corporation (the "Company"\nor "Allen-Vanguard") (TSX: VRS) of Ottawa, Canada announced today that it has\nreceived notification of orders valued at approximately C$3 million to supply\nLockheed Martin with additional advanced ECM equipment, scheduled for delivery\nearly in the third quarter of fiscal 2007.\n\n\n"This latest version of our ECM incorporates significant technology\nenhancements developed in the first quarter of this fiscal year," commented\nPresident and CEO David E. Luxton. "We are very pleased to see this work\ntranslate so quickly into additional orders, and we believe that these\nadvances can drive significant follow-on orders for this fiscal year."\n\n\nThe $3 million in order notification announced today is a partial\nexercise of the option for up to $22 million in additional ECM equipment\npursuant to the $8 million order received from Lockheed Martin on September\n29th, 2006.\n\n\nAbout Allen-Vanguard\n\n\nAllen-Vanguard Corporation and its subsidiaries worldwide operate under\nthe brand "Allen-Vanguard". The Company develops and markets technologies,\ntools and training for defeating and minimizing the effects of hazardous\ndevices and materials, whether Chemical, Biological, Radiological, Nuclear or\nExplosive (CBRNE). The Company's equipment is in service with leading security\nand military forces in more than 120 countries. Products include Electronic\nCounter-Measures ("ECM") equipment for jamming remote detonation of terrorist\ndevices, specialty security equipment for Explosive Ordnance Disposal ("EOD"),\nremote intervention robots for hazardous applications, vehicle barrier\nsystems, and personal protective wear for use in dealing with bio-chemical\nagents. Allen-Vanguard is the sole, worldwide licensee and/or developer of\npatented technologies such as the Universal Containment System and CASCAD Foam\nfor blast mitigation and decontamination of bio-chemical warfare agents. Head\noffice operations are located in Ottawa, Ontario, Canada, with manufacturing\noperations in Stoney Creek, Ontario; Tewkesbury, U.K.; and Cork, Ireland, and\ns...