NEWMARKET, Ontario, Oct. 23, 2018 (GLOBE NEWSWIRE) -- AirBoss of America Corp. (TSX: BOS) announced today that
AirBoss Defense, the defense products line of its Engineered Products segment, has been awarded an IDIQ contract from the US
Department of Defense (DOD) for the manufacture of up to 198,240 pairs of Extreme Cold Vapor Barrier Boots (ECVBB), commonly known
as bunny boots. The contract consists of an initial base year and one option year and is expected to be worth up to an aggregate
amount of US$51.5 million, assuming 198,240 pairs of ECVBBs are sold. Deliveries under the contract are expected to start in
the fourth quarter of 2018.
The ECVBB was developed during the Korean War to combat extreme cold weather exposure and has been the DOD’s
standard extreme cold weather boot since 1978. The ECVBB is designed to the highest quality and protection specifications –
waterproof and mildew-resistant with encapsulated thermal insulation and extreme thermal ratings of -54°C / -65°F.
Manufactured in 13 different sizes with three different widths (36 size options total), the ECVBB was developed to be a versatile
boot that provides optionality and functionality, including a proprietary air valve design that relieves pressure when
airborne.
AirBoss Defense is a world leader in the design, development, and manufacture of CBRN personal protective
equipment, as well as protection against communicable diseases and respiratory threats, for the individual, First Responder,
Medical, Military, Law Enforcement, Fire and Industrial communities. For more than 40 years, AirBoss Defense has supplied military
and first-response forces worldwide with hand wear, footwear, and respiratory protection from CBRN agents and extreme cold
weather.
AirBoss of America Corp. is a group of complementary businesses using compounding technology and engineering
expertise to create value for its customers. With a capacity to process approximately 400 million turn pounds of rubber annually,
AirBoss Rubber Solutions is one of North America’s largest custom rubber compounding companies and a leading supplier of essential
calendered and extruded products for a broad range of applications. AirBoss Engineered Products is a world leader in the supply of
life saving products for the military and a leading supplier of innovative anti-vibration solutions to the North American
automotive market. The Company’s shares trade on the TSX under the symbol BOS. Visit www.airbossofamerica.com.
Contact: Lisa Swartzman, President or Gren Schoch, Chairman and CEO at 905-751-1188.
AIRBOSS FORWARD LOOKING INFORMATION DISCLAIMER
Certain statements contained or incorporated by reference herein, including those that express management’s
expectations or estimates of future developments or AirBoss’ future performance, constitute “forward-looking information” or
“forward-looking statements” within the meaning of applicable securities laws, and can generally be identified by words such as
“will”, “may”, “could” “is expected to”, “believes”, “anticipates”, “forecasts”, “plans”, “intends” or similar expressions.
These statements are not historical facts but instead represent management’s expectations, estimates and projections regarding
future events and performance.
Statements containing forward-looking information are necessarily based upon a number of opinions, estimates
and assumptions that, while considered reasonable by management at the time the statements are made, are inherently subject to
significant business, economic and competitive risks, uncertainties and contingencies. AirBoss cautions that such
forward-looking information involves known and unknown contingencies, uncertainties and other risks that may cause AirBoss’ actual
financial results, performance or achievements to be materially different from its estimated future results, performance or
achievements expressed or implied by the forward-looking information. Numerous factors could cause actual results to differ
materially from those in the forward-looking information, including without limitation: impact of general economic conditions;
dependence on key customers; cyclical trends in the tire and automotive, construction, mining and retail industries; sufficient
availability of raw materials at economical costs; weather conditions affecting raw materials, production and sales; AirBoss’
ability to maintain existing customers or develop new customers in light of increased competition; AirBoss’ ability to successfully
integrate acquisitions of other businesses and/or companies or to realize on the anticipated benefits thereof, changes in
accounting policies and methods, including uncertainties associated with critical accounting assumptions and estimates; changes in
the value of the Canadian dollar relative to the US dollar; changes in tax laws and potential litigation; ability to obtain
financing on acceptable terms; environmental damage and non-compliance with environmental laws and regulations; potential product
liability and warranty claims and equipment malfunction. This list is not exhaustive of the factors that may affect any of
AirBoss’ forward-looking information.
All of the forward-looking information in this press release is expressly qualified by these cautionary
statements. Investors are cautioned not to put undue reliance on forward-looking information. All subsequent written
and oral forward-looking information attributable to AirBoss or persons acting on its behalf are expressly qualified in their
entirety by this notice. Forward-looking information contained herein is made as of the date of this press release and,
whether as a result of new information, future events or otherwise, AirBoss disclaims any intent or obligation to update publicly
this forward-looking information except as required by applicable laws. Risks and uncertainties about AirBoss’ business are
more fully discussed under the heading “Risk Factors” in our most recent Annual Information Form and are otherwise disclosed in our
filings with securities regulatory authorities which are available on SEDAR at www.sedar.com.
