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Bullboard - Stock Discussion Forum AirBoss of America Corp T.BOS

Alternate Symbol(s):  ABSSF

AirBoss of America Corp. is a Canada-based company, which develops, manufactures, and markets rubber-based products. The Company serves its products to automotive, heavy commercial, construction and infrastructure, oil and gas, and defense sectors. The Company operates through three segments: AirBoss Defense Group, Rubber Solutions, and Engineered Products. Its AirBoss Defense Group segment... see more

TSX:BOS - Post Discussion

AirBoss of America Corp > AirBoss Announces U.S. Federal Government Contract
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Post by SBAASTOCKS11 on Mar 16, 2021 10:43am

AirBoss Announces U.S. Federal Government Contract

NEWMARKET, Ontario, March 16, 2021 (GLOBE NEWSWIRE) -- AirBoss of America Corp. (TSX: BOS) (the "Company" or "AirBoss") today announced that its wholly-owned subsidiary AirBoss Defense Group ("ADG"), a global leader in survivability for the assured mobility and chemical, biological, radiological, nuclear, and explosive (“CBRNE”) communities, has been awarded a contract worth up to US$576 million by the U.S. Department for Health and Human Services ("HHS") – Office of the Assistant Secretary for Preparedness and Response ("ASPR") for the sale of nitrile patient examination gloves. HHS has provided ADG authorization to proceed immediately on an initial order expected to be worth up to US$288 million, with an equivalent follow-on option which HHS may exercise later in 2021 for an additional US$288 million. This award builds upon ADG’s successful history of providing protective and survivability solutions to the U.S. federal government.

“Our track record in delivering critical medical equipment and supplies during the most challenging of times, on time and on budget, has once again put us in a position to partner with HHS to supply a critical need. AirBoss Defense Group has continually demonstrated its strength as a domestic supplier of PPE designed to protect healthcare workers, first responders and military personnel against communicable diseases and CBRNE threats,” said Gren Schoch, Chairman and CEO of AirBoss. “Our pedigree as a leading survivability solutions provider with global supply chain and logistics management expertise coupled with our decades long experience in providing PPE to government agencies, will continue to put AirBoss in a position to support urgent needs across many of our product lines.”

Nitrile rubber gloves are in continuous demand by many agencies within the federal government. The gloves to be provided by ADG are for nonsurgical purposes, for use in hospitals and other health care settings. The contract and delivery timeline recognizes the urgency and priority HHS is assigning to increasing the supply of personal protective equipment (“PPE”) held in ASPR’s Strategic National Stockpile (“SNS”) to supplement state and local medical supplies and equipment during public health emergencies. The supplies, medicines, and devices for lifesaving care contained in the SNS can be used as a short-term, stopgap buffer when the immediate supply of these materials may not be available or sufficient.

This contract is yet another acknowledgement that ADG is a leading domestic supplier of survivability and protective solutions. Over the past year, ADG has delivered, on time and on budget, to HHS, FEMA and the VA, an aggregate of 150,000 of its proprietary powered air purifying respirator (PAPR) systems, more than 3.6 million PAPR filters, and related accessories including spare protective hoods. ADG is a survivability company that provides military, law enforcement, medical providers, industrial providers and first responders with a diverse portfolio of protective equipment that spans the entire survivability spectrum. Its emergency response and PPE is utilized by the U.S. Department of State, Federal Emergency Management Agency and Centres for Disease Control and Prevention, and it has provided PPE to emergency first response teams and hospitals across the U.S., as well as more than 30 countries worldwide.

Comment by oldinvestor64 on Mar 16, 2021 12:28pm
this is a tranformative acquisition
Comment by GoldenArm on Mar 16, 2021 3:11pm
Every US gov contract will lead to more unless you do something to mess it up AirBoss has been solid and with more money going into their reserves with this contrract they should start (hopefully) offering bigger dividends. I bout some at $16.50 and sold them when it went to $18 bought more at $24 and and again today at $30. I have a very good feeling this is going to be a great investment. IMHO ...more  
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