- SAIC, Allen-Vanguard team to develop CBRNE Defense technologies in order to pursue international decontamination and counter-IED opportunities - SAIC to distribute Allen-Vanguard products to U.S. federal agencies and international customers
OTTAWA, May 20 /CNW Telbec/ - Allen-Vanguard Corporation (the "Company" or "Allen-Vanguard") (TSX: VRS) of Ottawa, announced today that it has signed agreements with Science Applications International Corporation (SAIC) (NYSE:SAI), each for an initial term of two years.
"SAIC is a significant participant in large U.S. DoD CBRNE hardware and logistics programs and will be a strong and credible integration teammate. We expect that SAIC can substantially improve our positioning in large programs in the US and Canada." said David E. Luxton, President and CEO of Allen-Vanguard. "The agreements with SAIC will also help strengthen our market channels with the U.S. Government for our broad line of counter-IED and CBRNE products and services."
In the agreements, SAIC and Allen-Vanguard agree to jointly develop CBRNE defense technologies and training solutions in order to meet emerging U.S. and Canadian requirements. The technologies will have applications in North American defense and security programs with potential sales in international markets.
Under the terms of the agreements, SAIC will also serve as a distributor for Allen-Vanguard CBRNE defense hardware and materials. SAIC has provided Allen-Vanguard products and training services to U.S. and overseas clients for many years. Allen-Vanguard's low signature delivery systems are particularly popular for use in large outdoor event settings and among Special Forces users. The distributor agreement allows SAIC to pass favorable pricing on to existing and new clients via a number of contract vehicles.
Allen-Vanguard said that the potential value of the agreements with SAIC would become apparent in stages over the next 12-18 months. The Company noted that the agreements announced today were an important step in its stated strategy to team selectively with prime contractors and system integrators who manage many of the major counter-IED and CBRNE programs for military and homeland security customers on an outsourced basis.
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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