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Be the first with the news that moves the market- AirBoss of America (BOS) has been granted a two-year extension to its ongoing military contract, worth up to a further C$47.63 million
- Through the contract, AirBoss Defense Group is contributing to the Husky 2G Protected Payload Delivery Vehicle, which is designed for mine clearing activities in militarised zones
- With the new extension in place, Air Boss can continue to benefit from its foreign military sales, which are expected to contribute up to C$47.63 million to the company’s full-year financials
- The contract was originally awarded in 2017 by the Army Contracting Command Warren to Critical Solutions International, and has delivered 41 Husky vehicles to-date
- Airboss of America (BOS) is up 6.07 per cent and is trading at $18.18 per share
AirBoss of America (BOS) has been granted a two-year extension to its ongoing military contract, worth a further C$47.63 million.
The contract was originally awarded in 2017 by the Army Contracting Command Warren to Critical Solutions International, which merged with AirBoss’s defence business to form the AirBoss Defense Group.
Through the contract AirBoss Defense Group is contributing to the Husky 2G Protected Payload Delivery Vehicle, which is designed for mine clearing activities in militarised zones.
While AirBoss is chiefly a materials and engineering company, AirBoss Defense Group specifically supplies protective solutions and equipment for chemical, biological, radioactive, nuclear and explosive hazards.
With the new extension in place, Air Boss can continue to benefit from foreign military sales, which are expected to contribute C$47.63 million to the company’s full-year financials, through contract obligations at the time of the award.
To-date AirBoss Defense Group the has delivered 41 Husky vehicles to military customers in areas like Egypt, Saudi Arabia and Jordan, as well as in Ukraine and Iraq though the US-sponsored Global Train and Equip and Counter-ISIS program.
Chris Bitsakakis, President and Chief Operating Officer of AirBoss, commented on the contract extension.
“The ADG transaction helped us assemble a broad survivability platform with an array of both established and emerging for chemical, biological, radioactive, nuclear and explosive solutions.
“Contracts of this nature are the result of CSI’s strong relationships with their existing customers and speak to the longevity and applicability of the solutions, which we expect to contribute a more stable underlying revenue stream over a multi-year period,” he said.
Airboss of America (BOS) is up 6.07 per cent and is trading at $18.18 per share at 10:46am EDT.
