AirBoss Defense Group Receives $45 Million Order for the Bandolier Lightweight Multi-Purpose Energetic System
April 29 2024 - 7:15AM
AirBoss Defense Group (ADG) announced today that it has been
awarded a $45 million contract to provide its Bandolier
lightweight, multipurpose energetic system to a NATO partner
nation. Subject to satisfaction of customary conditions, including
obtaining required export documentation, deliveries under this
contract are expected to start in the second half of 2024 and
continue through the end of 2025, The Bandolier is a lightweight
and modular energetic system that can be employed across mobility,
counter mobility, and survivability mission profiles. The Bandolier
is designed to bridge the identified capability gap between large,
complex, single role explosive charges and standard bulk
demolitions, and its unique, lightweight, modular design allows for
flexible use across a variety of mission requirements. The system
reduces dependence on cumbersome single-role explosives and
time-consuming user-constructed charges, maximizing explosive
efficiency and operational versatility.
This order builds upon other recent contracts which ADG has
received for the Bandolier, as the company works to expand the
deployment of this product amongst NATO partner nations. Those
contracts, awarded in the third and fourth quarters of 2023, were
valued at up to US$9 million, for an aggregate of US$57.8 million
of Bandolier awards received by ADG in the past twelve months.
John Johns, COO of AirBoss Defense Group said,
“The AirBoss Bandolier is a unique and highly
versatile tool that addresses a wide range of
battlefield obstacles and threats. The Bandolier effectively
replaces multiple explosive products, enabled by
its ability to be re-configured and tailored in the field to
support a wide-spectrum of mission requirements. This
capability sets it apart from other systems. ADG
welcomes this opportunity to support our NATO partners
and the growth in demand for this highly effective,
multi-purpose energetic system.”
For more information, please visit www.adg.com.
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reference herein, including those that express management’s
expectations or estimates of future developments or ADG’s future
performance, constitute “forward-looking information” or
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management at the time the statements are made, are inherently
subject to significant business, economic and competitive risks,
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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’
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Contact: David CostelloTel: 617.875.2492Email:
david@risingtidemhd.com