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CWP

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Share Name Share Symbol Market Type
TSXV:CWP TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

ComWest's Subsidiary Awarded Government Contract Valued at Up to $34 Million

23/10/2012 2:00pm

Marketwired Canada


ComWest Enterprise Corp. (TSX VENTURE:CWP)(TSX VENTURE:CWP.A) (the "Company") is
pleased to advise that the Honourable Bernard Valcourt, Associate Minister of
National Defence, and the Honourable Rona Ambrose, Minister Public Works and
Government Services, announced that the Government of Canada has awarded a firm
contract valued at $8.5 million to ComWest's 90% owned subsidiary, Peerless
Garments LP of Winnipeg, Manitoba ("Peerless"). The contract is for the delivery
of enhanced lightweight combat trousers and coats for the Canadian Forces. This
award also includes three options exercisable during the 48 month period
following the award date, each for the delivery of similar quantities of the
same lightweight combat garments, bringing the total potential contract value up
to $34 million. These highly sophisticated Canadian Disruptive Pattern uniforms
are scientifically designed and specifically adapted to serve the men and women
of the Canadian Forces in the field environment. The complete news release by
the Government of Canada can be found at
http://www.forces.gc.ca/site/news-nouvelles/news-nouvelles-eng.asp?id=4465.


About Peerless Garments

Peerless has been a supplier to the Canadian Forces since the early 1950s during
which time it has developed strong expertise in working with highly technical
fabrics and manufacturing garments to rigid specifications. Government business
represented about 87% of Peerless' revenue in fiscal 2011. The remaining revenue
was from sales to other Canadian government agencies, retailers, and other
smaller customers including customers in the oil & gas industry.


Founded in 1940 as a supplier of basic parkas, Peerless has evolved over the
years to specialize in the production of highly technical protective garments
designed to provide water-resistance, wind proofing and warmth. Peerless' line
of military operational clothing aims to reduce detection through camouflage and
concealment while ensuring that soldiers are kept warm, dry and comfortable when
exposed to extreme weather conditions.


Peerless has an able management team headed by minority interest partner and
CEO, Albert El Tassi, who joined Peerless in 1969. Mr. El Tassi is a recipient
of the Queen's Golden Jubilee Medal and a Member of both the Order of Manitoba
and the Order of Canada. 


About ComWest

ComWest's principal business is its 90% partnership interest in Peerless which
was acquired in August 2010. The business strategy of ComWest is to utilize the
core business of Peerless as a platform for expansion into other segments of the
garment industry and/or to add established revenue producing businesses as
profitable acquisition opportunities in other industries present themselves at
accretive values. The Company continues to assess acquisition and expansion
opportunities on an ongoing basis.


On behalf of the Board

Douglas F. Good, President

FOR FURTHER INFORMATION PLEASE CONTACT: 
ComWest Enterprise Corp. - Investor relations contact
Douglas F. Good
President
778 370 1725
dgood@comwestenterprise.ca

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