ADSI Receives $50 Million U.S. Navy MAC IDIQ Award for Crew Protection Kits
21 Giugno 2010 - 2:30PM
Marketwired
American Defense Systems, Inc. ("ADSI") (NYSE
Amex: EAG), a provider of advanced transparent and opaque armor,
architectural hardening and security products for Defense and
Homeland Security, has received a Multiple Award Contract (MAC),
Indefinite Delivery Indefinite Quantity (IDIQ) Award from the Naval
Facilities Expeditionary Logistics Center (NFELC) of Port Hueneme,
California.
ADSI and two other companies were selected among seven proposals
received by the NFELC to submit bids under the MAC Award. The award
calls for up-armoring solutions of civil engineer support equipment
to be provided to the NFELC over the course of five years. The
maximum cumulative dollar value of the MAC award is $50 million,
with the base year and each of the four option years limited to $10
million per year. Information about the award (#N62583-10-D-0323)
can be found on the U.S. Department of Defense website at
http://www.defense.gov/contracts/contract.aspx?contractid=4247.
"This award provides a major opportunity for ADSI to build upon
the close relationship that we've developed with the U.S. Armed
Forces over many years," said ADSI's chief executive officer,
Anthony J. Piscitelli. "It also represents one of the largest
military contract vehicles we've received to-date."
"While it requires us to be competitive in order to win the
business allotted under the award," continued Piscitelli, "the
field has been significantly narrowed, and we're confident it will
generate significant revenues for us over time. We are especially
proud that we have been granted this continued responsibility of
protecting our brave military service personnel around the world
with our state-of-the-art crew protection kits ('CPKs'), which we
believe have already saved many lives."
The company's previous largest award was a three-year, $30
million firm fixed price, indefinite delivery, indefinite quantity,
sole-source contract received in April 2009 to provide CPKs and
spare parts for various types of construction vehicles used in U.S.
Marine Corps military operations.
About ADSI Crew Protection Kits ADSI's
Add-on-Armor (AoA) Crew Protection Kits (CPKs) are custom-fitted
for U.S. Military construction vehicles and designed to provide the
maximum level of security for the operator. They feature windows of
fully transparent armor, opaque armor siding (Aberdeen-tested and
approved to meet all Operation Iraqi Freedom requirements), a
patent-pending combat lock, tool-less emergency egress windows,
fortified door hinges and an integrated crew comfort system. The
CPKs are modular and can be applied to the vehicle either during
its assembly stateside or as a retrofit in theater. ADSI employs
Field Service Representatives (FSRs) on the ground in Afghanistan,
Iraq and Kuwait to train soldiers on the proper installation
techniques and offer on-going expertise and assistance. ADSI was
awarded the "Best Development in the Field of Armored Vehicle
Survivability" prize in January 2008 by Defense IQ, a division of
IQPC (http://defenseiq.com/), an organization comprised of senior
decision makers from the defense, aerospace and technology sectors,
and partnered with the Institute for Defense and Government
Advancement.
About The Naval Facilities Expeditionary
Logistics Center The Naval Facilities Expeditionary Logistics
Center (NFELC) enables the Expeditionary Warfighter to accomplish
their mission through Table of Allowance (TOA) generation,
fulfillment, delivery, and sustainment; and through emergent
operational logistics support. NFELC supports the Navy Shore
Establishment through acquisition, registration, and licensing of
Civil Engineer Support Equipment (CESE) and Civil Engineer End
Items (CEEI). NFELC provides the Ship and Shore Domain with
responsive, mobile, contingency utility support.
About American Defense Systems, Inc.
American Defense Systems, Inc. ("ADSI") offers advanced solutions
in the design, fabrication, and installation of transparent and
opaque armor, security doors, windows and curtain wall systems for
use by military, law enforcement, homeland defense and corporate
customers. ADSI engineers also specialize in developing innovative,
functional and aesthetically pleasing security applications for the
mobile and fixed infrastructure physical security industry. For
more information, visit the ADSI corporate Web site at
www.adsiarmor.com.
Some of the statements made by American Defense Systems, Inc.
("ADSI") in this press release, including, without limitation,
statements regarding ADSI's anticipated future growth, are
forward-looking in nature. ADSI intends that any forward-looking
statements shall be covered by the safe harbor provisions for such
statements contained in the Private Securities Litigation Reform
Act of 1995. Statements that are predictive in nature, that depend
upon or refer to future events or conditions, or that include words
such as "may," "will," "should," "expects," "anticipates,"
"intends," "plans," "believes," "estimates," "predicts,"
"potential," "continues," "projects" and similar expressions are
forward-looking statements. ADSI cautions you that forward-looking
statements are not guarantees of performance. ADSI undertakes no
obligation and disclaims any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise. Forward-looking statements involve
known and unknown risks and uncertainties that may cause ADSI's
actual future results to differ materially from those projected or
contemplated in the forward-looking statements. ADSI believes that
these risks include, but are not limited to: ADSI's reliance on the
U.S. government for a substantial amount of its sales and growth;
decreases in U.S. government defense spending; ADSI's ability to
contract further with the U.S. Department of Defense; ADSI's
ability to comply with complex procurement laws and regulations;
competition and other risks associated with the U.S. government
bidding process; changes in the U.S. government's procurement
practices; ADSI's ability to obtain and maintain required security
clearances; ADSI's ability to realize the full amount of revenues
reflected in its backlog; ADSI's ability to finance the redemption
of ADSI's series A convertible preferred stock in accordance with
the terms of such stock; ADSI's reliance on certain suppliers; and
intense competition and other risks associated with the defense
industry in general and the security-related defense sector in
particular.
Additional information concerning these and other important risk
factors can be found under the heading "Risk Factors" in ADSI's
filings with the Securities and Exchange Commission, including,
without limitation, its most recent annual report on Form 10-K.
Statements in this press release should be evaluated in light of
these important factors.
Company Contacts: Roger Ward V.P. of Marketing &
Investor Relations American Defense Systems, Inc. Tel 516-390-5300,
x326 Email Contact Investor Relations: Ron Both Managing
Director Liolios Group, Inc. Tel 949-574-3860 Email Contact
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