LANDOVER, Md., April 20, 2020 (GLOBE NEWSWIRE) -- AirBoss Defense Group (ADG) announced today that the Netherlands Defense Meteriel Organisation (DMO) has placed an initial order of 500 Bandolier Multipurpose Lightweight Explosive Clearing Charge Systems as part of a 5-year program to advance their demolitions capabilities. The contract also provides Bandolier training programs for DMO combat units. The Bandolier is a modern explosive charge designed to enhance soldier survivability and protection during combat operations, providing warfighters with a single, multifunctional device that can effectively clear any obstacle typically encountered on the battlefield in one lightweight, modular package.
The Netherlands is the first North Atlantic Treaty Organization (NATO) country to purchase the Bandolier system. The contract vehicle provides the ability for all 30 NATO member countries to easily procure Bandolier systems and ADG expects additional NATO orders to follow. “The purchase of the Bandolier System marks a milestone event in the demolitions community,” explains Michael McCormack, ADG’s Chief Strategy Officer. “The adoption of this modern, lightweight, highly versatile system by a Tier 1 NATO military power is a major update from the decades old use of standard bulk explosives (C-4) and other purpose-built explosive solutions. This integration will give the Dutch warfighter a significant edge on the battlefield.”
The Bandolier’s patented design bridges the capability gap between larger, complicated breaching charges and standard bulk demolitions. Its unique modular design is light enough for dismounted operations, while remaining flexible enough to meet larger-scale mission requirements. NATO forces can now be supplied with a single, lightweight, easy to use explosive system, capable of performing a wide range of tasks, eliminating the need for multiple mission-specific systems.
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; 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 tax laws and potential litigation; ability to obtain financing on acceptable terms; environmental damage and non-compliance with environmental laws and regulations; potential product liability and warranty claims and equipment malfunction. 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
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b574d1ea-f16c-41e9-832e-7154267030fb
Buy photo and video packages at flexible prices