OTTAWA, Dec. 15 /CNW Telbec/ - Allen-Vanguard Corporation (TSX: VRS) ("Allen-Vanguard" or the "Company") of Ottawa, Canada today announced that it has been awarded a contract from General Dynamics Land Systems-Canada (GDLS-C) to provide the Commander Blast Seat for the Stryker vehicle. The contract is for a quantity of 2,178 seats at a value of approximately $15.3 million, with first deliveries to begin in the second quarter of the Company's fiscal 2009 year. All amounts are in Canadian dollars unless otherwise specified.
"This is a very significant win for our new line of proprietary blast seat products," said David E. Luxton, President and CEO. "Government test results have confirmed its superior performance in vehicle occupant survivability, and we are very pleased to have been selected to contribute to the ongoing effort to protect the lives of servicemen and women in harm's way."
Allen-Vanguard derived the blast seat technology from its deep experience and science base in mitigation of blast effects, resulting in a family of proprietary, purpose-built seats engineered from the ground up for enhanced crew survivability against explosive devices. These products are one of the many proprietary products the Company has been developing in its Personal Protection Systems division. This division comprises established products such as bomb suits, bomb tools and robots and new proprietary products including micro climate systems, blast protection seats and specialized personal armor to protect against improvised explosive devices (IEDs).
"Increased vehicle armor has been saving vehicles but not necessarily the crew," commented Mr. Luxton. "Extensive programs to upgrade or replace many types of military vehicles are now focusing heavily on survivability of the occupants, and blast-absorbing seats are a key part of the equation."
The Company added that it is pursuing a number of other opportunities for its new blast protection seat technology with OEMs and integrators across a range of vehicle upgrade and replacement programs.
Forward looking statements
This press release may contain forward-looking statements, which reflect Allen-Vanguard's current expectations regarding future events, its strategy, expected performance and condition. Forward-looking statements include statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "plans," "believes," "estimates" or negative versions thereof and similar expressions. In addition, any statement that may be made concerning future performance, strategies or prospects, and possible future acquisitions or dispositions, is also a forward-looking statement. Forward-looking statements are based on current expectations and projections about future events and are inherently subject to, among other things, risks, uncertainties and assumptions about the Company and economic factors. Forward-looking statements are not promises or guarantees of future performance, and actual events and results could differ materially from those expressed or implied in any forward-looking statements made about the Company. Any number of important factors could contribute to these digressions, including, but not limited to, general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, business competition, technological change, changes in government regulations, unexpected judicial or regulatory proceedings, and catastrophic events. We stress that the above-mentioned list of important factors is not exhaustive. We encourage you to consider these and other factors carefully before making any investment decision and we urge you to avoid placing undue reliance on forward-looking statements. Further, you should be aware that the Company disclaims any obligation to publicly update or revise any such forward-looking statements whether as a result of new information, future events or otherwise, prior to the release of the next Management Discussion and Analysis to be released by the Company or except as required by law .
About Allen-Vanguard
Allen-Vanguard Corporation supports the mission of military and homeland security forces around the world with leading proprietary solutions for protection and counter-measures against hazardous devices of all kinds, whether chemical, biological, radiological or explosive (CBRNE), including improvised explosive devices (IEDs) and remotely controlled IEDs (RCIEDs). Allen-Vanguard equipment is in service 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, and personal protective wear for use in dealing with explosive and bio-chemical agents. Allen-Vanguard is the developer and/or sole, worldwide licensee of proprietary technologies such as the Med-Eng bomb suit, the DefenderTM and Vanguard TM Mk2 bomb disposal robots, and the Universal Containment System and CASCAD Foam system for blast mitigation and decontamination of bio-chemical warfare agents. Professional services encompass counter-IED intelligence, training and advisory services, including the TritonTM Report on terrorist incidents around the world. The Company operates globally through its wholly-owned subsidiaries under the names "Allen-Vanguard", "Med-Eng" and "Hazard Management Solutions". Head office operations are located in Ottawa, Ontario, Canada, with manufacturing operations in Stoney Creek and Pembroke, Ontario; Ogdensburg, New York; Tewkesbury, U.K.; and Cork, Ireland; The Company has professional services operations in Shrivenham, UK, Canada and in the U.S. in Arlington, Virginia, plus sales offices in Canada, the U.S., the U.K. and Asia. Allen-Vanguard's shares are listed on The Toronto Stock Exchange (TSX) under the symbol "VRS".
To find out more about Allen-Vanguard Corporation (TSX: VRS), visit our website at www.allen-vanguard.com.
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