- Initial order from Commonwealth country
- Adoption of Allen-Vanguard ECM equipment internationally continues to
grow
- Continued progress in U.S. ECM market
OTTAWA, Jan. 25 /CNW Telbec/ - Allen-Vanguard Corporation (the "Company" or "Allen-Vanguard") (TSX: VRS) of Ottawa, Canada announced today that it has received an order worth $3 million for its advanced digital ECM equipment which is used to counter the threat of remotely detonated explosive threats. All amounts are in Canadian dollars.
The order is the first from this Commonwealth country and represents an initial contract with expected follow-on requirements. Delivery is expected to take place in the Company's third quarter.
"We are very pleased to add this important customer to the growing number of international clients for our ECM equipment," said David E. Luxton, President and CEO.
The Company noted that virtually all major countries are now beginning significant long-term programs to upgrade their ECM capability. "The growing number of countries placing initial orders like this one clearly signals that Allen-Vanguard is well positioned at the beginning of a new cycle of procurement to better protect ground forces against the critical threat of remotely detonated improvised explosive devices," commented Mr. Luxton.
The Company also reported that it continues to make solid progress on ECM programs in the U.S. marketplace. "We are in the process of completing delivery of the initial Lockheed Martin order," said Mr. Luxton. "At the same time we are developing technology enhancements which we expect will trigger additional order flow. Likely, this will be additional seed quantity orders that introduce our latest ECM offering to a wider U.S. customer base and will grow steadily from that into significant operational quantities."
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. Products include Electronic Counter-Measures ("ECM") equipment for jamming remote detonation of terrorist devices, specialty security equipment for Explosive Ordnance Disposal ("EOD"), remote intervention robots for hazardous applications, vehicle barrier systems, and personal protective wear for use in dealing with bio-chemical agents. Allen-Vanguard is the sole, worldwide licensee and/or developer of patented technologies such as the Universal Containment System and CASCAD Foam for blast mitigation and decontamination of bio-chemical warfare agents. Head office operations are located in Ottawa, Ontario, Canada, with manufacturing operations in 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 Corporation (TSX: VRS), visit our website at www.allen-vanguard.com.
%SEDAR: 00018026E