MSA Comments on Awards Issued Under Army Contract for Advanced Combat Helmets
PITTSBURGH, Aug. 25 /PRNewswire-FirstCall/ -- MSA (NYSE: MSA), the world's leading manufacturer of sophisticated safety products, today commented about the reported value of a new contract issued by the U.S. Army for the procurement of as many as 880,000 Advanced Combat Helmets.
Earlier today, MSA was pleased to announce it had received an initial delivery order for $28 million under a five-year indefinite delivery/indefinite quantity (ID/IQ) contract from the U.S. Army to produce helmets and spare part kits. Following that announcement, the company received questions about the total value of the five-year ID/IQ contract based on a report issued by another helmet manufacturer that received a similar award.
"In conversations we had today with Army representatives, the Army confirmed to us that it did not award a $291 million contract for the production of Advanced Combat Helmets to any single manufacturer," said William Lambert, President, MSA North America. "Based on the Army exercising all options under the contract for 880,000 helmets and associated spare part kits, the total value of the five-year ID/IQ contract could approach $300 million. Three initial awards valued at approximately $28 million each were given to MSA and two other suppliers on August 24. In short, the three separate awards represent the initial delivery orders for helmets under the five-year contract."
Mr. Lambert further noted that future procurements under the five-year contract will be determined by the Army and be based on individual supplier performance, specifically delivery and quality.
The Advanced Combat Helmet, the development of which MSA pioneered in 2003, incorporates a new, lightweight design that offers soldiers advanced ballistic protection with greater comfort and stability. The ACH has been credited with saving several lives in military actions in Iraq and Afghanistan.
Established in 1914, MSA is a global leader in the development, manufacture and supply of sophisticated safety products that protect people's health and safety. Sophisticated safety products typically integrate any combination of electronics, mechanical systems and advanced materials to protect users against hazardous or life-threatening situations. The company's comprehensive line of products is used by workers around the world in the fire service, homeland security, construction and other industries, as well as the military. Principal products include self-contained breathing apparatus, gas masks, gas detection instruments, head protection, respirators and thermal imaging cameras. The company also provides a broad range of consumer and contractor safety products through retail channels. These products are marketed and sold under the MSA Safety Works brand. MSA has annual sales of more than $850 million, manufacturing operations throughout the United States and Europe, and more than 30 international locations. Additional information is available on the company's Web site at www.msanet.com.
SOURCE MSA
CONTACT: Mark Deasy of MSA, +1-412-967-3357
