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Tue, September 29, 2009
Mon, September 28, 2009
American Defense Systems, Inc.: ADSI Delivering $1.3 Million in Crew Protection Kit Part Orders to U.S. Army
HICKSVILLE, NY--(Marketwire - September 28, 2009) - American Defense Systems, Inc. (ADSI) (
The parts will be used to repair and recondition ADSI Crew Protection Kits (CPKs) currently deployed on U.S. Military construction vehicles. ADSI's Field Service Representatives are expected to assist in the installation of the spare parts. In February of this year, ADSI had reported that TACOM had extended its field service contract for approximately $750,000 to cover periods through the end of 2009.
"We believe this series of recent spare part orders received from TACOM -- which is in addition to the recent $9 million parts order from the U.S. Marine Corps -- demonstrates how the increasing adoption of our CPKs position us to secure long-term recurring revenue through maintenance and repair over the life of these vehicles," said ADSI's chief executive officer, Anthony J. Piscitelli. "Together with TACOM, we are fulfilling the critical mission of protecting the life and limb of our brave military service personnel as they perform their service to our country."
About ADSI Crew Protection Kits
ADSI CPKs are custom designed and fitted to offer a maximum amount of security for the operator. They feature windows of fully transparent armor, opaque armor siding (ATC 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) that are on the ground in Afghanistan, Iraq and Kuwait to train soldiers on the proper installation techniques and offer on-going expertise and assistance. In January 2008, ADSI was awarded the "Best Development in the Field of Armored Vehicle Survivability" prize by Defense IQ, a division of IQPC ([ http://defenseiq.com/Defence.aspx ]), 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 U.S. Army's TACOM Life Cycle Management Command
The U.S. Army's TACOM Life Cycle Management Command (LCMC), formerly known as Tank-automotive and Armaments Command (TACOM) and headquartered in Warren, Michigan, is part of AMC, the U.S. Army Material Command. TACOM LCMC integrates Army acquisition, logistics, and technology responsibilities, authorities, and processes to enable a closer relationship among all its partner organizations that develop, acquire, and sustain the capabilities provided by ground and soldier systems around the world. Its mission is to provide and sustain mobility, lethality, and survivability for soldiers and our Allies through ground combat, automotive, marine and armaments technologies. With a workforce of approximately 3,000 personnel in Warren and over 18,000 worldwide, TACOM supports over 3,500 fielded systems and over 29,000 components that make those systems work. For more information about TACOM, visit [ www.tacom.army.mil ].
About American Defense Systems
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 mobile and fixed infrastructure physical security. For more information about American Defense Systems, go to [ 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" 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 its series A convertible preferred stock in accordance with the terms of such stock and ADSI's settlement agreement with the holders 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 and quarterly report on Form 10-Q, and its registration statement on Form S-1 filed with the SEC on August 6, 2009. Statements in this press release should be evaluated in light of these important factors.