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American Defense Systems, Inc. “ADSI”
(AMEX: EAG), offering advanced solutions in the design, fabrication
and installation of transparent and opaque armor, security doors,
windows and curtain wall systems, announced today that JCB, Inc., one of
the world’s largest producers of heavy
construction and agricultural equipment with eighteen plants on four
continents awarded American Defense Systems, Inc. a contract to
produce Crew Protection Kits (CPKs) for the United Kingdom Ministry of
Defense (MoD). The kits will be installed on the HMEE (High Mobility
Engineer Excavator), an engineering vehicle with bucket and backhoe
capabilities that can produce road speeds in excess of 60 mph. This
contract is valued at approximately $540,000 and is independent of the
existing agreement between ADSI and JCB on HMEE armor for the U.S.
Military. ADSI expects the revenues from this new contract to be
realized in fiscal year 2008.
Chris Saucedo, General Manager for JCB’s North
American Military Products Division stated, “ADSI
was instrumental in the design and development of the Crew Protection
Kit. Their engineering acumen and their proprietary technology have
proven invaluable to this project.” JCB has
expectations for future UK MoD procurements based on the performance of
the vehicle and the armor. “The HMEE project
has proven very successful and we look forward to a long lasting
partnership with ADSI,” added Saucedo. The
up-armored HMEE surpassed all expectations of the ROPS (Roll-over
Protection) and FOPS (Falling Object Protection) testing program
administered by the U.S. Military, and is unrivaled by any vehicle in
its class.
Additionally, JCB and ADSI expect to work on future U.S. Military
projects as they continue to support nation building efforts in Iraq and
Afghanistan as well as prepare for future threats. Fergal I. Foley,
Chief Operating Officer for ADSI, commented, “We
believe our partnership with JCB provides ADSI with a visibility and
credibility reserved for the most professional organizations. We are
proud to provide Crew Protection Kits for the UK MoD as we continue to
penetrate the global market place, all in an effort to keep Allied war
fighters and nation builders safe.”
About JCB
JCB celebrated its 60th anniversary in 2005. JCB is privately-owned by
the Bamford family and the Chairman, Sir Anthony Bamford, is son of the
company’s founder, the late Joseph Cyril
Bamford. The company manufactures more than 300 different machines
including: backhoe loaders; Loadall telescopic handlers; tracked and
wheeled excavators; wheeled loading shovels; articulated dump trucks;
rough terrain forklifts; mini excavators; Robot skid steers loaders; JCB
Vibromax compaction equipment; generators and Groundcare equipment. In
addition, for agricultural markets, the company produces a range of
telescopic handlers and the unique Fastrac tractor. JCB also
manufactures the Teletruk forklift for the industrial sector. In 2005
JCB secured one of the largest orders in its history when it won a $200
million deal to supply the US Government with High Mobility Engineer
Excavators (HMEEs). Full scale production of the HMEE is now underway at
JCB’s plant in Savannah, USA. The HMEE
fulfils a need from the military for rapid deployment high mobility
products. The new vehicle joins a family of JCB military construction
vehicles designed and produced in the last 30 years, including the High
Mobility Variable Reach Truck (HMVRT), the High Mobility Rough Terrain
Forklift (HMRTF), the High Mobility Fastrac tractor (HMF) and High
Mobility Utility Vehicle (HMUV). All of these machines offer high speed,
exceptional protection for crews and the same construction capability as
civilian equipment. JCB entered the international military market in
1984, first supplying the British Army and Royal Air Force with nearly
1,000 wheel loaders.
In the last 23 years, the company has produced more than 3,400 military
construction machines for the armed forces of 45 nations around the
globe. Chris Saucedo, a Marine Corps veteran, serves as General Manager
of JCB’s Military Products Division for North
America and has hired many former military members whose first-hand
experience lends urgency to their assembly tasks and ensures that their
products meet stringent quality standards while increasing the Army’s
strategic and tactical capabilities on the battlefield.
JCB has won more than 50 major awards for engineering excellence,
exports, design, marketing, management and for its care for the
environment. Among them are 23 Queen’s Awards
for Technology and Export Achievement.
For more information about JCB, Inc. please visit http://www.jcbamericas.com
About American Defense Systems, Inc.
American Defense Systems, Inc. “ADSI”
(AMEX: EAG) 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 the mobile and fixed infrastructure physical security
industry.
For more information about American Defense Systems, Inc. please visit
the corporate Web site at http://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 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
registration statement on Form 10. Statements in this press release
should be evaluated in light of these important factors.