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[Oct 2006]
Ceramic Protection Corp Receives CAN$5.0 Million Order for Boron Carbide Body Armour Inserts
Ceramic Protection Corporation (Calgary, Alberta, Canada), a leading manufacturer and distributor of advanced ballistic protection products, has announced that its subsidiary, Ceramic Protection Corporation of America (CPC America), has received a new order for boron carbide body armour inserts from a major US armour integrator totalling approximately CAN$5.0 million. This order, to be produced at CPC's Newark (DE, USA) facility, will be delivered by the end of December 2006.
CPC also announced that it along with its subsidiary, CPC America, and three employees, has been named as Defendants in a Complaint by ArmorWorks Enterprises, LLC alleging numerous causes of action including breach of contract, breach of good faith, breach of warranty, fraud, tortious interference, misappropriation of trade secrets, violation of the Lanham Act, and unfair competition. John Walsh, President of Ceramic Protection Corporation, stated that the Complaint appears to be in response to a lawsuit previously filed by CPC America against ArmorWorks Enterprises, LLC for breach of contract and monies owed. Mr Walsh stated that, having reviewed the Complaint, it appears to be without merit and will be vigorously defended.
Mr Walsh further commented: "In spite of recent events, the Corporation continues to move forward in a positive direction as evidenced by the new order. This order will fill most of the capacity void created by the cancellation of our supply agreement with ArmorWorks through the end of 2006. We are focused on securing additional orders and are continuing to execute our previously stated strategy for diversifying our customer base and expanding the applications for this product line. The Corporation is committed to taking all possible steps to protect our shareholders' interest, including bringing all litigation to a successful conclusion."
Ceramic Protection Corporation, headquartered in Calgary, Alberta, Canada, with subsidiaries located in Newark, Delaware and Sunrise, Florida, USA, is an ISO 9001:2000 certified manufacturer and distributor of advanced materials for use in the ballistic protection marketplace. It manufactures a wide range of products used to provide protection for personnel and vehicles, including a wide range of ceramic armour products, multiple composite-based products and a full line of soft armour products.
The Calgary plant manufactures alumina ceramic and fibre-reinforced composites used for ballistic protection of personnel and vehicles. In conjunction with its wholly owned subsidiary, CPC America of Newark, Delaware, the corporation also manufactures a wide range of boron carbide, silicon carbide and polyethylene products for use in personnel armour systems. Another subsidiary, Protective Products International Corp, of Sunrise, Florida, manufactures a wide range of soft armour products for the law enforcement and military markets.
ENDS