Newmarket, ON – AirBoss of America Corp. (TSX: BOS) (the “Company” or “AirBoss”) today announced that AirBoss Defense, the defense products line of its Engineered Products segment, has received a second order under the previously announced indefinite delivery/indefinite quantity (“IDIQ”) contract from the U.S. Department of Defense for the manufacture and sale of up to 600,000 pairs of Molded CBRN Lightweight Overboots (the “Molded AirBoss Lightweight Overboot” or “MALO”). As previously disclosed, the contract is expected to be worth up to an aggregate amount of US$26.7 million and, to date, AirBoss Defense has received two orders under the contract for 174,800 pairs of MALOs, worth approximately US$7.8 million.
“AirBoss has significant manufacturing flexibility that will permit us to deliver this new follow-on order through the balance of 2020 and beyond,” said Chris Bitsakakis, President and Chief Operating Officer of AirBoss. “With this second order in hand, we now expect to deliver a meaningful portion of this contract next year.”
The MALO, made with an injection-molded advanced specialty polymer, was originally designed and developed to provide superior physical properties and protection compared to chemical, biological, radiological, and nuclear (CBRN) overboots then in service, and fully integrates with all currently fielded CBRN Suits. The MALO has been broadly adopted worldwide and been used in more than 40 countries. To date, AirBoss has sold more than 445,000 pairs of MALO boots.
AirBoss Defense is a world leader in the design, development, and manufacture of CBRN personal protective equipment, as well as protection against communicable diseases and respiratory threats, for the individual, First Responder, Medical, Military, Law Enforcement, Fire and Industrial communities. For more than 40 years, AirBoss Defense has supplied military and first-response forces worldwide with handwear, footwear, and respiratory protection from CBRN agents and extreme cold weather.
AirBoss of America Corp.
AirBoss of America Corp. is a group of complementary businesses using compounding technology and engineering expertise to create value for its customers. With a capacity to process over 450 million turn pounds of rubber annually, AirBoss Rubber Solutions is one of North America’s largest custom rubber compounding companies and a leading supplier of essential calendered and extruded products for a broad range of applications. AirBoss Engineered Products is a world leader in the supply of life-saving products for the military and a leading supplier of innovative anti-vibration solutions to the North American automotive market. The Company’s shares trade on the TSX under the symbol BOS. Visit www.airbossofamerica.com.
Contact: Chris Bitsakakis, President or Gren Schoch, Chairman and CEO at 905-751-1188.
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