DHB Industries gets contract award for OTV Conversion Kits up to $169m
07 Aug '06
2 min read
DHB Industries Inc, a leader in the field of protective body armor, announced that Point Blank Body Armor, one of the Company's wholly-owned subsidiaries, received an Indefinite Delivery/Indefinite Quantity (ID/IQ) contract to supply the United States Army with OTV Conversion Kits with a maximum value of $169 million over three-years.
The initial delivery order as part of this award is for $37 million and the Company disclosed that production and delivery is expected to begin this quarter.
The OTV Conversion Kits, in the new Universal Camouflage Pattern, consist of a base outer shell carrier, ballistic yoke and collar, ballistic groin protector, and ballistic throat protector. They will be used in the Company's Interceptor Body Armor ensemble, which Point Blank Body Armor has previously and continues to supply to the US Army and other branches of the US Armed Forces.
Larry Ellis, President and Acting CEO of DHB Industries said, "We are pleased to announce this latest contract with the US Army as it represents another significant milestone for our Company. We continue to develop leading, protective body armor products for the US Armed Forces, in addition to Federal Agencies and law enforcement personnel."
Ellis continued, "Year to date, DHB has announced contracts with potential awards in excess of $290 million for its various product lines, which is a testament to the quality of our products and continued demand from our customers. We lookforward to building upon this momentum in the second half of the year and in the years to come."
DHB Industries Inc's Armor Group is in the protective body armor industry. Its highly recognized subsidiaries, Point Blank Body Armor Inc and Protective Apparel Corporation of America (PACA), are focused on the design, manufacture, and distribution of bullet resistant and protective body armor for military, law enforcement, and corrections in the US and worldwide.
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