AirBoss Defense Group Awarded Two New Contracts Valued at up to $22.3 Million
Defense Logistics Agency Again Selects ADG to Provide Molded Gloves for CBRN Protection Partner Nation Expands Consumption of ADG Bandolier Multipurpose Line Charge System
JESSUP, Md., July 06, 2023 (GLOBE NEWSWIRE) -- AirBoss Defense Group (ADG), the global leader in survivability for the assured mobility and chemical, biological, radiological, nuclear (CBRN) communities is announcing that the Defense Logistics Agency (DLA) has selected the ADG AirBoss Molded Glove (AMG) for it’s JB2GU CBRN glove program contract. This is a three (3) year contract expected to be worth up to an aggregate amount of US$18.5 million.
ADG holds the current sole source contract for this requirement and is proud to have been again selected as the supplier of choice for this critical personal protective equipment (PPE) item for American warfighters. CBRN gloves are in continuous demand by the Department of Defense and the AMG was designed to provide superior protection against CBRN threats and a wide range of toxic industrial chemicals. The glove was developed to provide optimal fit, comfort, dexterity, and tactility while fully integrating with all currently fielded CBRN suits. The AMG is the solution of choice and incumbent program glove in over forty countries, with over 6.1 million pair sold to date.
ADG has supported the CBRN and PPE needs of the Federal Government for more than two decades and continues to actively assist the Department of Defense to build a stable, secure, and resilient supply chain for high-quality PPE.
“ADG is pleased to continue providing our unique protective and survivability solutions to the Defense Logistics Agency,” said Patrick Callahan, CEO of ADG. “The AMG is a key component of CBRN protection systems procured by the Department of Defense and we look forward to providing this critical glove system now and in the future to ensure the safety of our warfighters in austere environments and challenging conditions.”
ADG is also pleased to announce that a foreign partner nation has re-selected ADG to continue supplying the Bandolier multipurpose line charge system for use across that country’s military. This order is an expansion of the customer’s ongoing program of record for the Bandolier and is expected to be valued at up to $3.8 million USD over 12-months.
The Bandolier is a lightweight and modular energetic system that can be employed across mobility, counter mobility and survivability mission profiles. The Bandolier bridges the identified capability gap between large, complex, single role explosive charges and standard bulk demolitions. Its unique modular design is light enough to be used in dismounted operations while remaining flexible enough to meet larger-scale mission requirements.
About AirBoss Defense Group (ADG)
ADG is a growing survivability company that provides military, law enforcement, medical providers, industrial providers and first responders with a diverse portfolio of protective equipment that spans the entire survivability spectrum. AirBoss Defense, an ADG brand, is a recognized world leader in rapid deployment negative pressure isolation shelters, CBRNE protective equipment, medical protective equipment, and personal respiratory protective products. AirBoss Defense’s emergency response and personal protective equipment is utilized by the Department of Defense, U.S. Department of State, FEMA, CDC, other government agencies and private companies.
For more information, please visit www.adg.com.
FORWARD LOOKING INFORMATION DISCLAIMER
Certain statements contained or incorporated by reference herein, including those that express management’s expectations or estimates of future developments or ADG’s future performance, constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws, and can generally be identified by words such as “will”, “may”, “could” “is expected to”, “believes”, “anticipates”, “forecasts”, “plans”, “intends” or similar expressions. These statements are not historical facts but instead represent management’s expectations, estimates and projections regarding future events and performance.
Statements containing forward-looking information are necessarily based upon a number of opinions, estimates and assumptions that, while considered reasonable by management at the time the statements are made, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies. ADG cautions that such forward-looking information involves known and unknown contingencies, uncertainties and other risks that may cause ADG’s actual financial results, performance or achievements to be materially different from its estimated future results, performance or achievements expressed or implied by the forward-looking information. Numerous factors could cause actual results to differ materially from those in the forward-looking information, including without limitation: impact of general economic conditions; dependence on key customers; global defense budgets, notably in ADG’s target markets, and success of ADG in obtaining new or extended defense contracts; sufficient availability of raw materials at economical costs; weather conditions affecting raw materials, production and sales; ADG’s ability to maintain existing customers or develop new customers in light of increased competition; ADG’s ability to successfully integrate acquisitions of other businesses and/or companies or to realize on the anticipated benefits thereof, changes in accounting policies and methods, including uncertainties associated with critical accounting assumptions and estimates; changes in the value of the Canadian dollar relative to the US dollar; changes in tax laws; current and future litigation; ability to obtain financing on acceptable terms; environmental damage and non-compliance with environmental laws and regulations; impact of global health situations; potential product liability and warranty claims and equipment malfunction. The continued COVID-19 pandemic could also negatively impact ADG’s operations and financial results in future periods. There is increased uncertainty associated with future operating assumptions and expectations as compared to prior periods. As such, it is not possible to estimate the impacts the continued COVID-19 pandemic will have on ADG’s financial position or results of operations in future periods. While the direct impacts of COVID-19 are not determinable at this time, AirBoss of America Corp., the parent company of ADG, has a credit facility as at December 31, 2020 that can provide financing up to US$60,000,000. This list is not exhaustive of the factors that may affect any of ADG’s forward-looking information.
All of the forward-looking information in this press release is expressly qualified by these cautionary statements. Investors are cautioned not to put undue reliance on forward-looking information. All subsequent written and oral forward-looking information attributable to ADG or persons acting on its behalf are expressly qualified in their entirety by this notice. Forward-looking information contained herein is made as of the date of this press release and, whether as a result of new information, future events or otherwise, ADG disclaims any intent or obligation to update publicly this forward-looking information except as required by applicable laws. Risks and uncertainties about ADG’ business are more fully discussed under the heading “Risk Factors” in AirBoss of America Corp.’s (“AirBoss”) recent Annual Information Form and are otherwise disclosed in AirBoss’ filings with securities regulatory authorities which are available on SEDAR at www.sedar.com.
Contact: David Costello
Tel: 617.875.2492
Email: david@risingtidemhd.com
