LWI - Land Warfare
Point Blank Solutions receives $30m to support US Military
Point Blank Solutions, Inc., a leader in the field of protective body armor, today announced that Point Blank Body Armor, the Company's wholly owned subsidiary, has received multiple orders totaling approximately $30 million for the production of Outer Tactical Vest ("OTV") ballistic panel kits and related ballistic components. Products produced by the Company will be used to support US Military and Government operations and the Company expects to begin production in the fourth quarter of 2011.
Commenting on the announcement, Jim Henderson, Chief Executive Officer and Chairman of the Board stated, "Over the past year, we have made significant improvements in our manufacturing capabilities, improved our supply chain and industry relationships and greatly enhanced our product design and engineering initiatives. All of these steps have enabled us to remain a key supplier of protective solutions for the US Military and Government, and have contributed to our growth in other areas of our business, most notably the domestic law enforcement market. We look forward to continuing to meet the needs of the Government and all of our customers, providing the most innovative body armor solutions the industry has to offer."
Source: Point Blank
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