Business
Allen-Vanguard Corporation announces Med-Eng integration plan and provides general update
Allen-Vanguard Corporation announces Med-Eng integration plan and provides general update.
About this update from Verisante Technology, Inc.
[{"type":"text","content":"\n\n\n\n- Integrated organizational structure with three reporting segments:\n Electronic Systems, Personal Protection Systems, and Services\n- Record revenue expected for Q4 ended September 30, 2007\n- Fiscal 2008 indicated revenue in excess of $500 million confirmed,\n reflecting strong order flows\n\n\nOTTAWA, Oct. 25 /CNW Telbec/ - Allen-Vanguard Corporation\n("Allen-Vanguard" or the "Company") (TSX:VRS) today provides a general update,\nincluding its integration plan, new senior management appointments, revenue\nfor the fourth quarter of fiscal 2007, as well as an update to the outlook for\nthe combined Med-Eng Systems Inc. ("Med-Eng") and Allen-Vanguard enterprise\nfor fiscal 2008, which commenced October 1, 2007. All amounts are in Canadian\ndollars unless otherwise noted.\n\n\nIntegration plan\n\n\nThe Company announced an integrated organizational structure with three\nreporting business segments: Electronic Systems, Personal Protection Systems\nand Services, each of which has operations in North America servicing the\nU.S., Canada and Latin America, and in the U.K. servicing overseas\ninternational markets.\n\n\n - Electronic Systems is comprised mainly of the Company's electronic\n counter measures (ECM) technology, commonly called "jammers", which\n prevent the detonation of remotely controlled improvised explosive\n devices ("RCIED"s).\n\n - Personal Protection Systems includes bomb disposal suit and chem-bio\n suit ensembles, body armour to protect against improvised explosive\n devices ("IED"s), bomb search and disposal tools and equipment, and\n blast mitigation and decontamination equipment.\n\n - Services entails counter-IED intelligence, training and advisory\n services, including the "Triton" intelligence report, and operates\n under the name Hazard Management Solutions ("HMS").\n\n"Together, these products and services provide a unique platform for\ncomprehensive mission support to military and homeland security forces for\nsustainable capability against the continuously evolving threat of IEDs,\nwhether explosive, bio-chemical or radiological, including RCIEDs," said\nDavid E. Luxton, President and CEO.\nThe Company plans to report revenue and gross margin for these segments\ncommencing the fourth quarter of fiscal 200...