Point Blank Solutions Announces $2.4 Million Government Contract
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POMPANO BEACH, Fla., Oct. 5 /PRNewswire-FirstCall/ -- Point Blank Solutions,
Inc. ("PBSI", OTC Pink Sheets: PBSO), a leader in the field of protective body
armor, announced today that its wholly owned subsidiary, Point Blank Body
Armor, received an award in the amount of $2.4 million from the Defense Supply
Center of Philadelphia ("DSCP") to supply its Vision concealable vest and
plate carriers to support the U.S. Army's Military Police. The Company will
begin production in October 2009 and expects to complete the order by January
2010.
Jim Henderson, Chief Executive Officer and Chairman of the Board stated, "The
Vision series is one of, if not the lightest, most flexible concealable vest
in the market today and is designed to protect against numerous threat levels.
It is the first body armor system that integrates hi-performance ballistic
materials with an innovative carrier design. While this contract is smaller
than other, recent awards, it is an especially significant win for Point Blank
in that the Vision concealable vest will be worn by both commercial and
federal law enforcement personnel and can be used to support the requirements
of several other agencies. Our goal remains to develop new and innovative
ballistic technologies that save lives."
ABOUT POINT BLANK SOLUTIONS, INC.
Point Blank Solutions, Inc. is a leader in the design and production of
technologically advanced body armor systems for the U.S. Military, Government,
and law enforcement agencies, as well as select international markets. The
Company is also recognized as the largest producer of soft body armor in the
U.S.
With state-of-the-art manufacturing and laboratory testing facilities,
strategic technology and marketing alliances, and with an ongoing commitment
to deliver innovative, lowest-cost, best value soft body armor products, Point
Blank Solutions delivers the most advanced body armor solutions, faster and
more effectively than anyone in the industry. The Company maintains
facilities in Pompano Beach, FL and Jacksboro, TN. To learn more about Point
Blank Solutions, Inc. visit our website at www.PointBlankSolutionsInc.com.
SAFE HARBOR STATEMENT
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: THE STATEMENTS WHICH ARE NOT HISTORICAL FACTS CONTAINED IN THIS PRESS
RELEASE ARE FORWARD-LOOKING STATEMENTS, WHICH ARE BASED LARGELY ON THE
COMPANY'S EXPECTATIONS AND ARE SUBJECT TO VARIOUS BUSINESS RISKS AND
UNCERTAINTIES, CERTAIN OF WHICH ARE BEYOND THE COMPANY'S CONTROL. WORDS SUCH
AS "EXPECTS," "ANTICIPATES," "TARGETS," "GOALS," "PROJECTS," "INTENDS,"
"PLANS," "BELIEVES," "SEEKS," "ESTIMATES," VARIATIONS OF SUCH WORDS, AND
SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY SUCH FORWARD-LOOKING STATEMENTS.
THESE FORWARD-LOOKING STATEMENTS ARE ONLY PREDICTIONS THAT SPEAK AS OF THE
DATE HEREOF AND ARE SUBJECT TO RISKS, UNCERTAINTIES AND ASSUMPTIONS THAT ARE
DIFFICULT TO PREDICT. THEREFORE, ACTUAL RESULTS MAY DIFFER MATERIALLY AND
ADVERSELY FROM THOSE EXPRESSED IN ANY FORWARD-LOOKING STATEMENTS. FACTORS THAT
MIGHT CAUSE OR CONTRIBUTE TO SUCH DIFFERENCES INCLUDE, BUT ARE NOT LIMITED TO,
(1) CHANGES IN THE COMPANY'S INTERNAL CONTROL STRUCTURE OVER FINANCIAL
REPORTING, (2) UNCERTAINTY OF FUTURE FINANCIAL RESULTS, (3) ADDITIONAL
FINANCING REQUIREMENTS, (4) DEVELOPMENT OF NEW PRODUCTS, (5) GOVERNMENT
APPROVAL AND CONTRACTING PROCESSES, (6) THE IMPACT OF COMPETITIVE PRODUCTS OR
PRICING, (7) TECHNOLOGICAL CHANGES, (8) THE EFFECT OF POLITICAL AND ECONOMIC
CONDITIONS, (9) THE OUTCOME AND IMPACT OF LITIGATION TO WHICH THE COMPANY IS A
PARTY AND THE SECURITIES AND EXCHANGE COMMISSION AND OTHER INVESTIGATIONS
REGARDING THE COMPANY, (10) TURNOVER IN THE COMPANY'S SENIOR MANAGEMENT AND
(11) OTHER UNCERTAINTIES DETAILED IN THE COMPANY'S FILINGS WITH THE SECURITIES
AND EXCHANGE COMMISSION, INCLUDING, WITHOUT LIMITATION, THOSE UNCERTAINTIES
AND RISKS DISCUSSED IN DETAIL IN "RISK FACTORS," IN THE COMPANY'S PERIODIC
REPORTS ON FORMS 10-K AND 10-Q. THE COMPANY UNDERTAKES NO OBLIGATION TO REVISE
OR UPDATE PUBLICLY ANY FORWARD-LOOKING STATEMENTS TO REFLECT ANY CHANGE IN THE
EXPECTATIONS OF OUR MANAGEMENT WITH REGARD THERETO OR ANY CHANGE IN EVENTS,
CONDITIONS, OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENTS ARE BASED.
Company Contact: Media Contact:
Michelle Doery, Chief Financial Officer Glenn Wiener, Media Relations
+1-954-630-0900 Tel: +1-212-786-6011
Email: gwiener@GWCco.com
SOURCE Point Blank Solutions, Inc.
Michelle Doery, Chief Financial Officer of Point Blank Solutions, Inc.,
+1-954-630-0900, or Media Glenn Wiener, Media Relations, +1-212-786-6011,
gwiener@GWCco.com
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