OTTAWA, April 23 /CNW Telbec/ - Allen-Vanguard Corporation (the "Company" or "Allen-Vanguard") (TSX: VRS) of Ottawa, Canada confirms that the U.S. Department of Defense ("DoD") has posted a pre-solicitation notice of intent to contract on a sole-source basis with Lockheed Martin for up to 600 Symphony ECM systems for coalition forces operations. Details of the posting may be found at http://www.fbo.gov/spg/DON/NAVSEA/NAVSEAHQ/N0002407R4215/SynopsisP.html
Allen-Vanguard is the supplier of Symphony ECM component sets to Lockheed Martin under the terms of a seven year Technology License and Supply Agreement between the two companies announced January 18, 2006. The last similar order to Allen-Vanguard from Lockheed Martin was for 196 Symphony component systems at a value of approximately C$8 million.
The Company is confirming this intended contract notice to ensure that all investors have equal access to the DoD public posting information. The Company has no further comment pending the receipt of any order, and notes that the present DoD notice is an intent to contract and does not constitute an actual contract or obligation to contract.
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.
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