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Vanguard(TM) Mk2 bomb disposal robot selected for five year program
Initial order worth $3.7 million plus $1.6 million option
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OTTAWA, Sept. 4 /CNW Telbec/ - Allen-Vanguard Corporation (TSX:VRS) of
Ottawa, Canada (Allen-Vanguard or the Company), announced today that it has
received notification from the Canadian Department of National Defence (DND)
that the Company's Vanguard(TM) Mk2 bomb disposal robot has been selected for
the Canadian Forces (CF) "MINI-ROV" program.
The MINI-ROV program is expected to run for five years. The initial order
is valued at $3.7 million, with an option for additional robot orders at a
value of $1.6 million (all amounts in Canadian dollars). Ultimate quantities
and contract values including in-service support over the life of the program
are not yet established. The Company expects to fulfill the initial order in
the first half of its 2007 fiscal year commencing October 1st, 2006.
"This was an important win against international competitors," said David
E. Luxton, Allen-Vanguard CEO. "It further validates the performance,
capabilities and value of our Vanguard(TM) Mk2 robot for military operations
and is leveragable into similar programs elsewhere."
The Vanguard(TM) Mk2 robot technology, owned by the Company, was
developed in collaboration with Technical Support Working Group (TSWG), the
U.S. national forum that identifies, prioritizes, and coordinates interagency
and international research and development (R&D) requirements for combating
terrorism. The development mandate was to design an affordable bomb disposal
robot to meet the mission requirements of local U.S. bomb teams. All local
bomb teams in the U.S. have been mandated to have a bomb disposal robot by
2009.
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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