ARNPRIOR, ONTARIO–(Marketwire – Jan. 26, 2012) – Pacific Safety Products Inc. (TSX VENTURE:PSP), a leading North American manufacturer of advanced armour solutions, is pleased to announce that a new contract was recently awarded by the Ontario Ministry of Community Safety and Correctional Services for the delivery and disposal of ballistic personal soft body armour systems. This omnibus contract allows Municipal and Provincial agencies to acquire PSP’s products through pre-negotiated arrangements. This Contract has an initial period of performance of three years with an option for an additional two years. Based on historical data the Company estimates the potential sales value of this Contract to be between $12.5 million to $15 million, including the option years.
The contract will allow the Municipal and Provincial agencies, including all advisory, adjudicative, regulatory and operational service agencies and other entities falling within the Public Service, to purchase the Company’s NIJ 0101.06 certified HeliX male and female armour and carriers. The products will be manufactured at the Company’s Arnprior, Ontario facility. The contract has commenced effective January 16, 2012 with new orders and deliveries.
According to Doug Lucky, CEO, “PSP has won this Contract in a fair, open and transparent competitive process, and the selection of the Company by this customer reflects well on the quality of our products, services we provide, and customer value we deliver.”
Customers of PSP include Defence, Security and Law Enforcement agencies. For reasons associated with the unique role our customers play in protecting citizens, the Company is not always at liberty to disclose their identity. Pacific Safety Products has been a trusted supplier of protective armour solutions to law enforcement in Canada for over 20 years.
