OTTAWA, July 4 /CNW Telbec/ - Allen-Vanguard Corporation (TSX: VRS) today
commented on the status of their bid for the CREW Spiral 2 ("CREW-2") project.
According to a press release issued by New York Congressman Jim Walsh,
the U.S. Army has awarded the entire CREW-2 contract to American non-profit
organization Syracuse Research Corporation. Allen-Vanguard has not been able
to confirm this information as of yet however Allen-Vanguard is aware that, on
or about July 1, 2005, the U.S. Army was granted a Congressional override of
the rule prohibiting an award of a contract while there are multiple bid
protests outstanding. Allen-Vanguard's lead partner, Foster-Miller Inc., is
amongst the bidders having filed a protest. Allen-Vanguard and Foster-Miller
are evaluating their options.
Allen-Vanguard announced in March, 2005 that it had signed a teaming
agreement with Foster-Miller, Inc. of Waltham, Massachusetts for the purposes
of submitting a significant proposal to the United States Army for the supply
of advanced Electronic Counter Measures ("ECM") systems.
Currently Allen-Vanguard's ECM systems are used in over twenty countries
around the world, including in Iraq and Afghanistan.
About Foster-Miller
Foster-Miller, Inc. is an engineering and technology development firm
principally located in suburban Boston, MA, with additional offices in
Washington, DC and Albany, NY. The firm was founded in 1956 by three graduates
of MIT who believed there was a need for a company that could solve clients'
difficult technical problems through first-class analysis and design. Foster-
Miller became an independent, wholly owned subsidiary of QinetiQ, Inc. in
November 2004. The company has a staff of 350 that includes mechanical,
electrical, thermal, chemical, nuclear, aerospace, software and materials
engineers as well as metallurgists, physicists, mathematicians, chemists,
biologists and support staff.
About Allen-Vanguard
Allen-Vanguard Corporation and its subsidiaries worldwide operate under
the brand "Allen-Vanguard". The Company develops and markets technologies,
tools and training for defeating and minimizing the effects of hazardous
devices and materials, whether Chemical, Biological, Radiological, Nuclear or
Explosive (CBRNE). The Company's equipment is in service with leading security
and military forces in more than 120 countries. This includes a complete range
of remote intervention robots for hazardous applications, vehicle barrier
systems, suspect package containers and Electronic Counter-Measures (ECM)
equipment. The Company is a world leader in the development, manufacturer and
sale of specialty security equipment for Explosive Ordnance Disposal (EOD),
and is the sole, worldwide licensee and/or developer of patented technologies
such as the Universal Containment System and CASCAD Foam for blast mitigation,
decontamination of bio-chemical warfare agents, and personal protective gear.
Head office operations are located in Ottawa, Ontario, Canada, with
manufacturing operations in Ottawa and Stoney Creek, Ontario; Tewkesbury,
U.K.; and Cork, Ireland, and sales offices in Canada, the U.S., the U.K. and
Asia. The Company's shares are listed on The Toronto Stock Exchange (TSX:
VRS). The web site is www.allen-vanguard.com .
This press release may contain forward-looking statements relating to,
among other things, the Company's expectations concerning future product
demand and growth opportunities and customer acceptance of Company's products.
These forward-looking statements are neither promises nor guarantees, but
involve risks and uncertainties that may cause actual results to differ
materially from those in the forward-looking statements. The Company disclaims
any obligation to publicly update or revise any such statements. The Toronto
Stock Exchange has neither approved nor disapproved the contents of this press
release.
To find out more about Allen-Vanguard (TSX: VRS), visit our website at
www.allen-vanguard.com .
%SEDAR: 00018026E
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