Business
Allen-Vanguard announces Technology Licensing and Supply Agreement with U.S. defense contractor for Electronic Counter Measures (ECM)
Allen-Vanguard announces Technology Licensing and Supply Agreement with U.S. defense contractor for Electronic Counter Measures (ECM).
About this update from Verisante Technology, Inc.
[{"type":"text","content":"\n\n\n\n\nOTTAWA, Dec. 29 /CNW Telbec/ - Allen-Vanguard Corporation (the \"Company\"\nor \"Allen-Vanguard\") (TSX:VRS) of Ottawa, Canada today announced that it has\nsigned a major licensing and joint development agreement with a leading U.S.\ndefense contractor (the \"Contractor\") to manufacture and market certain\nElectronic Counter Measures (ECM) technologies developed by the Company. The\nagreement also outlines the opportunity to jointly develop future generations\nof such technologies with the Contractor.\nUnder the terms of this seven year agreement the Company granted the\nContractor the exclusive right to sell manufactured units incorporating the\nCompany's components to customers located in the United States, and a non-\nexclusive license to sell to customers located outside the United States.\n\"In the coming weeks we hope to be able to release more detailed\ninformation\", said David Luxton, interim Chairman and CEO of Allen-Vanguard.\n\"For the moment we are precluded for reasons of confidentiality but this deal\nis significant and material so we are releasing an interim statement at this\ntime as a matter of necessary disclosure\".\n\nAbout Allen-Vanguard\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. This includes a complete range\nof remote intervention robots for hazardous applications, vehicle barrier\nsystems, suspect package containers and Electronic Counter-Measures (ECM)\nequipment. The Company is a world leader in the development, manufacturer and\nsale of specialty security equipment for Explosive Ordnance Disposal (EOD),\nand is the sole, worldwide licensee and/or developer of patented technologies\nsuch as the Universal Containment System and CASCAD Foam for blast mitigation,\ndecontamination of bio-chemical warfare agents, and personal protective gear.\nHead office operations are located in Ottawa, Ontario, Canada, with\nmanufacturing operations in Ottawa and Stoney Creek, Ontario; Tewkesbury,\nU.K.; and Cork, Ireland, a...