Allen Vanguard announces $10 million in contract awards for Explosive Ordnance Disposal (EOD) equipment
Allen-Vanguard Corporation (the "Company" or "Allen-Vanguard") (TSX: VRS) of Ottawa, Canada today announced that it received $10 million in contract awards for EOD equipment in the past week, including $6 million from the U.S. Department of Defense (DoD) for Iraq and $4 million from Brazil and Eastern European customers. All amounts are in Canadian dollars at prevailing exchange rate.
"We are seeing a pronounced increase in activity for EOD equipment requirements, driven by a combination of heightened IED threats in many countries and by equipment attrition in theatres of conflict and stockpiling of leave-behind equipment as U.S. troops draw down in Iraq," said David E. Luxton, President and CEO.
- Published: 16 March 2009
- Written by Editor