AirBoss Awarded Two New Contracts Valued at up to $22.3 Million

NEWMARKET, Ontario, July 05, 2023 (GLOBE NEWSWIRE) -- AirBoss of America Corp. (TSX: BOS)(OTCQX:ABSSF) (the “Company” or “AirBoss”) today announced that its wholly-owned subsidiary, AirBoss Defense Group (“ADG”), has received an order from the Defense Logistics Agency (“DLA”) for the ADG AirBoss Molded Glove (“AMG”) and that a partner nation has re-selected ADG to supply its Bandolier multipurpose line charge system for use by its military. The combined value of these contract awards is expected to be worth up to US$22.3 million.

Glove Contract Provides Superior Protection to American Warfighters

The AMG contract, which was awarded as a part of DLA’s JB2GU CBRN glove program, is expected to be worth up to an aggregate amount of US$18.5 million over a term of three years. ADG currently holds the single source contract for this requirement and is pleased to have again been selected as the supplier of choice for this critical personal protective equipment. The AMG was designed to provide superior protection against CBRN threats and a wide range of toxic industrial chemicals. The glove was developed to provide optimal fit, comfort, and functionality while fully integrating with current field equipment.

Order Extension Based on the Bandolier’s Unique Design and Capabilities

ADG’s Bandolier order is an expansion of the customer’s ongoing program of record for the Bandolier and is expected to worth US$3.8 million over a period of 12 months. The Bandolier is a lightweight and modular energetic system that can be employed across mobility, counter mobility, and survivability mission profiles. The Bandolier is designed to bridge the identified capability gap between large, complex, single role explosive charges and standard bulk demolitions, and its unique, lightweight, modular design allows for flexible use across a variety of mission requirements.

“With these latest two contracts, ADG continues to provide customers with unique protective and survivability solutions,” said Chris Bitsakakis, President and COO of AirBoss. “We look forward to providing DLA with this critical glove system now and in the future to ensure the safety of warfighters in austere environments and challenging conditions. We are also excited to have extended ADG’s supplier relationship for the Bandolier line charge system. The Bandolier is an important part of ADG’s portfolio of survivability solutions and demonstrates the ADG team’s ability to innovate to meet the unique needs of its customers.”