Point Blank Enterprises Announces New, Four-Year Defense Logistics Agency Contract; Approximately $50 Million In New Orders Expected In Year One
POMPANO BEACH, Fla., April 26, 2012 /PRNewswire/ — Point Blank Enterprises, Inc., the worldwide leader in the production of soft body armor and related protective solutions, today announced that it has been awarded a firm-fixed price contract from the Defense Logistics Agency (“DLA”) to provide Improved Outer Tactical Vest and Outer Tactical Vest components to support U.S. Army and U.S. Air Force personnel. This contract has a maximum value of $119.9 million and the Company expects the first year’s value to be approximately $50 million with three, one-year option awards thereafter.
Commenting on this latest award, Jim Henderson, Chief Executive Officer, stated, “We continue to receive large volume orders from the U.S. Military and Government given our past proven performance, our ability to produce high volume quality products on time, and for our never-ending commitment to innovation and safety. We are proud to be a chosen supplier to the U.S. Government and it’s with great pride that we continue to produce life-saving products for America’s servicemen and women.”
About Point Blank Enterprises, Inc.
Point Blank Enterprises, Inc. (“PBEI”) is a leading provider of high performance protective solutions, including bullet, fragmentation and stab resistant apparel and related accessories. Through its key brands, Point Blank Body Armor, Protective Apparel Corporation of America (PACA), Protective Products and Paraclete, the Company ranks as the largest global supplier of ballistic and soft armor systems in the world. The Company’s ballistic solutions have been credited with saving countless lives for the most important customers in the world, including the U.S. Armed Forces, Department of Defense, Federal Government and law enforcement, corrections and security personnel, both domestically and abroad. For more information on our Company, please visit our website at www.pointblanksolutionsinc.com.
Company Contact: Media Contact: ---------------- -------------- Glenn Wiener Dionne Manchester Chief Market Strategist Senior Vice President VP, Business Development Media Relations Tel: 212-786-6011 Tel: 212-786-6068 Email: firstname.lastname@example.org Email: dionne@GWCco.com
SOURCE Point Blank Enterprises, Inc.