AirBoss Defense Group Receives Federal Government Contract valued up to $84 Million for U.S. ...

JESSUP, Md., Sept. 10, 2024 (GLOBE NEWSWIRE) -- AirBoss Defense Group (ADG), a global defense and survivability solutions provider of chemical, biological, radiological, nuclear, and explosive (CBRNE) products, has been awarded a contract worth up to $84 million by the U.S. Department of Health and Human Services (HHS) – Office of the Assistant Secretary for Preparedness and Response (ASPR) for the supply of protective isolation gowns. The contract base and option periods are funded at $59M with a yet-unfunded option and surge amount valued at $25M. Deliveries under this contract are expected to commence in the fourth quarter of 2024 and continue through to the beginning of 2026. This award builds upon ADG’s history of providing protective and survivability solutions to the U.S. Federal government.

Provision of the isolation gowns under this contract are intended to supply the U.S. Strategic National Stockpile (SNS) and be issued by the U.S. Government as part of a holistic response to a national emergency and to supplement state local, tribal and territorial medical supplies and equipment during public health emergencies. The supplies, medicines, and devices for lifesaving care contained in the SNS can be used as a short-term, stopgap buffer when the immediate supply of these materials may not be available or sufficient.

Over the past several years, ADG has delivered to the U.S. Government, an aggregate of 150,000 of its proprietary powered air purifying respirator (PAPR) systems, more than 3.6 million PAPR filters, and related accessories, and 15 million boxes of patient examination gloves, and partnered with COVID test kit manufacturers to deliver over 120 million test kits to ASPR for public distribution. ADG is a 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. ADG’s emergency response products and PPE is utilized by the U.S. Department of State, Federal Emergency Management Agency (FEMA) and Centers for Disease Control and Prevention, and the company has provided PPE to emergency first response teams and hospitals across the U.S., as well as more than 30 countries worldwide.

John Johns, COO of AirBoss Defense Group said, “ADG has supported the CBRNE and PPE needs of the federal government for more than two decades and continues to actively support the national strategy to build a stable, secure, and resilient capability to supply high-quality U.S. Made and Sourced PPE to the U.S. Government. ADG is pleased to again partner with HHS to provide critical supplies when American first responders and healthcare workers need it the most.”  

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, notably including its impact on demand for rubber solutions and products; dependence on key customers; global defense budgets, notably in the Company’s target markets, and success of the Company in obtaining new or extended defense contracts; cyclical trends in the tire and automotive, construction, mining and retail industries; 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; ADG’s ability to successfully develop and execute effective business strategies; ADG’s ability to secure the required end user statements or similar documents; 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 and current and future litigation; ability to obtain financing on acceptable terms and ability to satisfy the covenants set forth in such financing arrangements; environmental damage and non-compliance with environmental laws and regulations; impact of global health situations; potential product liability and warranty claims and equipment malfunction. There is increased uncertainty associated with future operating assumptions and expectations as compared to prior periods. 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.sedarplus.com.

Contact: David Costello Tel: 617.875.2492 Email: david@risingtidemhd.com