MSA Notes Change in Status of Federal Funding to Fire Departments
Grant Dollars Expected to be Released Shortly
PITTSBURGH, Sept. 8 /PRNewswire-FirstCall/ -- Officials at MSA (NYSE: MSA) today noted that the U.S. Department of Homeland Security has announced its intent to begin releasing funds to qualifying fire departments under the 2006 Assistance to Firefighters Grant (AFG) program. In a notice published in the Federal Register, DHS reported that notification of AFG awards to individual fire departments should occur shortly, with the initial release of grant dollars expected to occur over the next several weeks.
John T. Ryan III, MSA Chairman and CEO, noted that this year's release of funds under the AFG program comes about one month later than similar releases in 2005, which was itself much later than in previous years.
"This is certainly good news for our fire department customers and for MSA," Mr. Ryan said. "As we have noted on different occasions, the timing of the release of this funding affects purchases by the U.S. fire service, including both those ultimately funded by the AFG program and those who use local funding after the AFG decisions are made. As the AFG program moves forward, our goal now is to make up for lost time and to generate solid business in this market. Having been in this situation before, we are geared up to convert orders into shipments as expeditiously as possible in the remaining weeks of 2006 and beyond."
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, thermal imaging cameras and ballistic body armor. 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 $900 million, manufacturing operations throughout the world, 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
