POMPANO BEACH, Fla., Aug. 30 /PRNewswire/ -- Point Blank Solutions, Inc. (Pink Sheets: PBSOQ), a leader in the field of protective body armor solutions, today announced that its wholly owned subsidiary, PACA Body Armor ("PACA") has been awarded the Virginia State Police contract for soft body armor, which applies to all state, city and county law enforcement and corrections agencies.
"We are honored to have been selected by the State of Virginia as their trusted supplier of soft body armor solutions and will work to exceed all of our commitments to not only the state, but to the other 17,000 local officers who require the most advanced body armor systems in the market," stated Michael Foreman, senior vice president, domestic and international sales. "This is a meaningful win for our company given the importance of the Virginia market and its proximity to our nation's capital. This also builds upon our momentum in the Northeast markets, following key customer wins in Washington, D.C., Maryland, Boston, Philadelphia, New Jersey and New York for both concealable and tactical body armor."
Utilizing 100 percent DuPont™ Kevlar® XP™, a new patented woven fabric technology from DuPont Protection Technologies, Perform-XP protects against increased threat levels faced by officers, and delivers incredible bullet-stopping power under a variety of extreme field conditions (heat, humidity, cold and mechanical wear). According to independent lab tests and research conducted by DuPont, Kevlar® XP™, consistently stops most bullets within the second or third layer of a ballistic panel. The remaining layers absorb the energy of the bullet and tests have shown that Kevlar® XP™ decreases back face signature (BFS) by 15 percent or more, thereby reducing potentially serious ballistic and trauma injuries. It is also up to 10 percent lighter than other technologies designed to defeat the most challenging NIJ Level IIIA ballistic threat – the 44 Magnum. Perform-XP is also engineered to protect against other "special threats" ammunition such as the 9mm SXT 127 grain and FN 5.7x28, among others.
This latest award with the state of Virginia is a two-year contract, which is renewable for up to five-years and will begin with state agency purchases of the Company's Perform-XP body armor solution. However, as the approved vendor in Virginia, all of the Company's products – for both Point Blank Body Armor and PACA Body Armor will be available for purchase by any law enforcement and corrections agency in the state.
ABOUT POINT BLANK SOLUTIONS
Point Blank Solutions, Inc. is a leader in the design and production of technologically advanced body armor systems for the U.S. Military, Government and law enforcement agencies, as well as select international markets. The Company is also recognized as the largest producer of soft body armor in the U.S. With state-of-the-art manufacturing and laboratory testing facilities, strategic technology and marketing alliances, and an ongoing commitment to drive innovation, the Company believes that it can deliver the most advanced body armor solutions, quicker and better than anyone in the industry. The Company maintains facilities in Pompano Beach, FL and Jacksboro, TN. To learn more about Point Blank Solutions, Inc. visit our website at www.PointBlankSolutionsInc.com.
SAFE HARBOR STATEMENT
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: THE STATEMENTS WHICH ARE NOT HISTORICAL FACTS CONTAINED IN THIS PRESS RELEASE ARE FORWARD-LOOKING STATEMENTS, WHICH ARE BASED LARGELY ON THE COMPANY'S EXPECTATIONS AND ARE SUBJECT TO VARIOUS BUSINESS RISKS AND UNCERTAINTIES, CERTAIN OF WHICH ARE BEYOND THE COMPANY'S CONTROL. WORDS SUCH AS "EXPECTS," "ANTICIPATES," "TARGETS," "GOALS," "PROJECTS," "INTENDS," "PLANS," "BELIEVES," "SEEKS," "ESTIMATES," VARIATIONS OF SUCH WORDS, AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY SUCH FORWARD-LOOKING STATEMENTS. THESE FORWARD-LOOKING STATEMENTS ARE ONLY PREDICTIONS THAT SPEAK AS OF THE DATE HEREOF AND ARE SUBJECT TO RISKS, UNCERTAINTIES AND ASSUMPTIONS THAT ARE DIFFICULT TO PREDICT. THEREFORE, ACTUAL RESULTS MAY DIFFER MATERIALLY AND ADVERSELY FROM THOSE EXPRESSED IN ANY FORWARD-LOOKING STATEMENTS. FACTORS THAT MIGHT CAUSE OR CONTRIBUTE TO SUCH DIFFERENCES INCLUDE, BUT ARE NOT LIMITED TO, (1) CHANGES IN THE COMPANY'S INTERNAL CONTROL STRUCTURE OVER FINANCIAL REPORTING, (2) UNCERTAINTY OF FUTURE FINANCIAL RESULTS, (3) ADDITIONAL FINANCING REQUIREMENTS, (4) DEVELOPMENT OF NEW PRODUCTS, (5) GOVERNMENT APPROVAL AND CONTRACTING PROCESSES, (6) THE IMPACT OF COMPETITIVE PRODUCTS OR PRICING, (7) TECHNOLOGICAL CHANGES, (8) THE EFFECT OF POLITICAL AND ECONOMIC CONDITIONS, (9) THE OUTCOME AND IMPACT OF LITIGATION TO WHICH THE COMPANY IS A PARTY AND THE SECURITIES AND EXCHANGE COMMISSION AND OTHER INVESTIGATIONS REGARDING THE COMPANY, (10) TURNOVER IN THE COMPANY'S SENIOR MANAGEMENT, (11) UNCERTAINTIES ASSOCIATED WITH THE REORGANIZATION PROCESS AND (12) OTHER UNCERTAINTIES DETAILED IN THE COMPANY'S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION, INCLUDING, WITHOUT LIMITATION, THOSE UNCERTAINTIES AND RISKS DISCUSSED IN DETAIL IN "RISK FACTORS," IN THE COMPANY'S PERIODIC REPORTS ON FORMS 10-K AND 10-Q. THE COMPANY UNDERTAKES NO OBLIGATION TO REVISE OR UPDATE PUBLICLY ANY FORWARD-LOOKING STATEMENTS TO REFLECT ANY CHANGE IN THE EXPECTATIONS OF OUR MANAGEMENT WITH REGARD THERETO OR ANY CHANGE IN EVENTS, CONDITIONS, OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENTS ARE BASED.
SOURCE Point Blank Solutions, Inc.