TVIN - hovering around 3.90 - Proving it's not a 1 trick pony. This could be huge.
US Army Selects TVI Corporation Chemical Protective Suit for Further Testing and Evaluation
Wednesday July 28, 11:22 am ET
GLENN DALE, Md.--(BUSINESS WIRE)--July 28, 2004--TVI Corporation (OTCBB:TVIN - News), a leading supplier of rapid deployment shelters and chemical/biological decontamination systems for the military, public health and first response agencies, today announced that it has received notice that its Class III Chemical Protective Suit submission, i.e. the Coverall Lightweight Decontamination Protective Suit, has been selected by the Product Manager-Weapons of Mass Destruction-Civil Support Systems (PM-WMD-CSS) for further testing and evaluation.
The selection follows the completion of Phase I of the program, which included the initial search and identification of prospects, a series of technical reviews, and culminated with the final selection by a committee comprised of technical experts from the testing and evaluation community, industry and the military user base.
Further testing and evaluation will be conducted under Phase 2 (Test and Evaluation) of the PM-WMD-CSS Program - a critical phase in which success could ultimately lead to final selection.
Program management oversight for the general program is provided by the Edgewood Chemical Biological Center, Aberdeen Proving Ground, Maryland. US Army Natick Soldier Center's Chemical Technology Team is responsible for technical program management.
The program is designed to ultimately identify and select the best means of protection for men and women in the US Armed Forces. The limited number of resulting "downselects" will share the opportunity to fulfill Department of Defense acquisition requirements for millions of protective suits over a five to seven year period.
"We were extremely pleased to learn that our submission was selected," stated Rick Priddy, President and CEO of TVI Corporation. "This program has spawned a tremendous amount of interest and competition from within the industry. It has the potential to generate significant sales over the next three to seven years. Getting to this point in the process is a significant milestone for us. This achievement is evident of our ongoing successful launch of new technologies and solutions, it helps to illustrate that we are responding appropriately to merging homeland defense requirements."
The "TVI" designation is a trademark of TVI Corporation. Any other company and product names mentioned above are trade names and/or trademarks of their respective owners.
About TVI Corporation:
TVI Corporation, located in Glenn Dale, Maryland, is a leading supplier of rapid deployment shelters and chemical/biological decontamination systems for the military, public health, and first response agencies. TVI is also a primary source to the military for thermal targets and thermal decoys.
About this Press Release:
Information contained in this press release constitutes forward-looking statements within the meaning of the securities laws and involves expectations, beliefs, plans, intentions or strategies regarding the future. These statements may be identified by the use of forward-looking words or phrases such as "should", "believes", expects", "might result", and others. These forward-looking statements involve risks and uncertainties and are not guarantees of future performance, as actual results could differ materially from our current expectations. Such risks and uncertainties include achieving order and sales levels to fulfill revenue expectations; our ability to respond to changes in the counter-terrorism, military, public safety, and first responder communities; adverse changes in governmental regulations; expected costs or charges, certain of which may be outside the control of the Company; the time and costs involved in the marketing and promotion for our products; the possible cancellation of existing orders for our products; general economic and business conditions; and competitive factors in our markets and industry generally. Numerous other factors could cause or contribute to such differences, including, but not limited to, those set forth in the Company's Annual Report to Stockholders, 10-KSB, 10-QSB, and other SEC filings. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date of the press release. We assume no obligation to update any such forward-looking statements, whether as a result of new information, future events or otherwise.
For more information concerning TVI, please visit us at: www.tvicorp.com.
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Contact:
TVI Corporation, Glenn Dale
Richard Priddy, 301-352-8800
or
Mike Frank, 201-659-0101 |
