LANDOVER, Md., April 01, 2020 (GLOBE NEWSWIRE) -- AirBoss Defense Group (ADG) announced today that the U.S. Government has placed an initial order for 100,000 American-made FlexAir Powered Air Purifying Respirators (PAPR) and 600,000 High Efficiency Filters for urgent response to the COVID-19 pandemic. The FlexAir PAPR is designed to enable medical providers and first responders unencumbered protection over extended periods of time while providing critical medical care. The value of the contract is expected to be $96.4M and deliveries will begin immediately and are expected to be completed over the next 13 weeks.
The FlexAir PAPR System is a compact, lightweight respirator system powered by an onboard battery in a waist-mounted blower, designed and manufactured in the United States. The flexible design permits the use of 2 High Efficiency particulate filters, providing a high level of protection against biological viruses like COVID-19.
This is war, and President Trump is using the full force of the federal government and the full power of private enterprises like ADG to rapidly mobilize our industrial base to fight the hidden enemy of COVID-19, said Dr. Peter Navarro, White House Director of the Office of Trade and Manufacturing Policy. ADG has stepped up with lightning speed, and their willingness to help meet the urgent need for powered respirators will save American lives. This crisis has shown that maintaining and supporting a strong U.S. manufacturing base is of critical importance to our nations economic security and national defense.
Certain statements contained or incorporated by reference herein, including those that express managements expectations or estimates of future developments or ADGs future performance, constitute forward-looking information or forward-looking statements within the meaning of applicable securities laws, and can generally be identified by words such as will, may, could is expected to, believes, anticipates, forecasts, plans, intends or similar expressions. These statements are not historical facts but instead represent managements expectations, estimates and projections regarding future events and performance.
Statements containing forward-looking information are necessarily based upon a number of opinions, estimates and assumptions that, while considered reasonable by management at the time the statements are made, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies. ADG cautions that such forward-looking information involves known and unknown contingencies, uncertainties and other risks that may cause ADGs actual financial results, performance or achievements to be materially different from its estimated future results, performance or achievements expressed or implied by the forward-looking information. Numerous factors could cause actual results to differ materially from those in the forward-looking information, including without limitation: impact of general economic conditions; dependence on key customers; sufficient availability of raw materials at economical costs; weather conditions affecting raw materials, production and sales; ADGs ability to maintain existing customers or develop new customers in light of increased competition; ADGs ability to successfully integrate acquisitions of other businesses and/or companies or to realize on the anticipated benefits thereof, changes in accounting policies and methods, including uncertainties associated with critical accounting assumptions and estimates; changes in tax laws and potential litigation; ability to obtain financing on acceptable terms; environmental damage and non-compliance with environmental laws and regulations; potential product liability and warranty claims and equipment malfunction. This list is not exhaustive of the factors that may affect any of ADGs forward-looking information.
All of the forward-looking information in this press release is expressly qualified by these cautionary statements. Investors are cautioned not to put undue reliance on forward-looking information. All subsequent written and oral forward-looking information attributable to ADG or persons acting on its behalf are expressly qualified in their entirety by this notice. Forward-looking information contained herein is made as of the date of this press release and, whether as a result of new information, future events or otherwise, ADG disclaims any intent or obligation to update publicly this forward-looking information except as required by applicable laws. Risks and uncertainties about ADG business are more fully discussed under the heading Risk Factors in AirBoss of America Corp.s (AirBoss) recent Annual Information Form and are otherwise disclosed in AirBoss filings with securities regulatory authorities which are available on SEDAR at www.sedar.com.
AirBoss Defense Group
3341 75th Avenue, Suite GG
Landover, Maryland
Contact: David Costello
Tel: 617.875.2492
Email: david@risingtidemhd.com