Last checked at 8 Feb 2022 07:00
8 February 2022
Avon Protection plc
U.S. Defense Logistics Agency helmet contract
Avon Protection plc is pleased to announce the award of a contract to supply the U.S. Defense Logistics Agency with the second-generation Advanced Combat Helmet.
The contract has a maximum value of $204 million over a five-year duration, being a one-year base period with a maximum value of $46 million plus four further one-year extension options. The base year has a minimum value of $7 million.
Initial revenues are expected in our 2024 financial year, following completion of First Article Testing in 2023.
Commenting, Paul McDonald, Chief Executive Officer, said:
"This is another significant, multi-year helmet contract for Avon Protection, following the award for the U.S. Army next-generation Integrated Head Protection System. By combining Ceradyne's helmet shell moulding capabilities and Team Wendy's helmet liner and retention system technologies, we have further enhanced our leadership position in helmet technology and broadened our portfolio, increasing our competitiveness in mid-specification ballistic helmets.
This contract helps underpin the medium-term outlook and visibility for Avon Protection and reflects the strength of our offering to both military and first responder customers globally."
For further enquiries, please contact:
Avon Protection plc
Paul McDonald, Chief Executive Officer +44 1225 896 848
Nick Keveth, Chief Financial Officer
Rachel Stevens, Director of Investor Relations
MHP Communications
Andrew Jaques +44 783 462 3818
Charlie Barker +44 771 003 2657
Pete Lambie avonprotection@mhpc.com
Legal Entity Identifier: 213800JM1AN62REBWA71
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation ("MAR") EU no.596/2014. Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
Note to editors:
Avon Protection designs and produces life critical personal protection solutions for the world's militaries and first responders. With a portfolio that includes Chemical, Biological, Radiological, Nuclear ("CBRN"), respiratory and head protection products, Avon Protection's mission is to relentlessly advance the future of protection enhancing the performance, efficiency and capability of their customers whilst providing ever increasing levels of protection.
Avon Protection operates from 7 locations employing more than 1,000 people and is listed on the London Stock Exchange (LSE: AVON).
For further information, please visit our website www.avon-protection-plc.com.