Allen-Vanguard announces $7.3 million follow-on order from Lockheed Martin for Symphony electronic counter measures (ECM) equipment

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[{"type":"text","content":"\n\n\n\nOTTAWA, Aug. 5 /CNW Telbec/ - Allen-Vanguard Corporation (the "Company"\nor "Allen-Vanguard") (TSX: VRS) of Ottawa, Canada today announced that it has\nreceived a $7.3 million follow-on order from Lockheed Martin for Symphony\ncomponents including spares and accessories (all amounts in Canadian dollars\nunless otherwise noted).\n\n\nThis order is pursuant to and is a continuation of the existing contract\nfor up to 1,000 Symphony systems. The full $7.3 million order is expected to\nbe delivered before the Company's fiscal year-end, September 30, 2008. "We are\nvery pleased to see orders for Symphony jammers resuming after a long interval\ndue to delays in the procurement process under the U.S. Foreign Military Sales\nsystem," said David E. Luxton, President and CEO. "FMS sales entail lengthy\nexport approval times but several orders from various countries have been\nworking their way through the process for some time. The order announced today\nis the first to complete the process."\n\n\nThe Company stated that it expects further follow-on Symphony orders\nunder the FMS process to come in varying quantities at irregular intervals\nhere forward, pursuant to the DoD pre-solicitation notice of January 31, 2008\nfor a sole-source IDIQ contract to Lockheed Martin for up to an additional\n7,500 Symphony jammers, at 2,500 systems per year for three years. "The demand\nfor Symphony jammers from many coalition countries and indigenous forces\ncontinues to grow," added Mr. Luxton. "In Iraq, we note that the U.S. has\nreported it is supplying 8,500 Humvee vehicles to Iraq security forces and\nthat a contract solicitation dated July 15, 2008 specifically stipulates that\na first quantity of these vehicles is to be modified and configured to accept\nSymphony jammers.\n\n\nAllen Vanguard\n\n\nForward looking statements\n\n\nThis press release may contain forward-looking statements, which reflect\nAllen-Vanguard's current expectations regarding future events, its strategy,\nexpected performance and condition. Forward-looking statements include\nstatements that are predictive in nature, that depend upon or refer to future\nevents or conditions, or that include words such as "expects," "anticipates,"\n"plans," "believes," "estimates" ...

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