BlastGard International to Further Commercialize Its Anti-Terrorism Technology in MOU with Lancer Systems, LP
CLEARWATER, Fla., Oct 29, 2007 (BUSINESS WIRE) -- BlastGard International, Inc. (OTCBB:BLGA) is further advancing its move from an early stage commercial company to a fully commercialized company by entering into a Memorandum of Understanding with Lancer Systems LP ("Lancer"). Lancer, (formerly Greene, Tweed Defense) provides manufacturing, marketing/sales and program management capabilities to service the domestic and international Military markets. Lancer also has support and sales organizations within Israel to support the military and security markets in that country.
Lancer and BlastGard have agreed to enter into an exclusive arrangement for the manufacture, marketing, and sale of BlastGard products for two defined business opportunities: 1) military weapons containers; and 2) under and side armor for various vehicle programs. BlastGard has also granted to Lancer a limited exclusive right to sell BlastGard products in the State of Israel on defined and agreed projects. Lancer intends to use BlastGard products including container and baggage storage for aircraft, public and specifically school safety as well as various military applications within Israel.
Brian Hodges, President of Lancer Systems, said, "This agreement with BlastGard affords Lancer a unique and attractive opportunity to deliver innovative technology and valuable products to our customers. During this time of increased danger from terrorism, BlastGard's anti-terrorism technology will directly protect our customers against improvised explosive devices (IED's), will secure military ordinance from sympathetic detonation and play a vital near-future role in the protection of government, commercial and residential property."
Jack Waddell, BlastGard President, said, "This effort to advance our commercialization with Lancer Systems provides us with a meaningful strategic partner for military sector sales, which we anticipate will provide immediate benefits to our military sector initiatives."
About Lancer Systems LP
While the name Lancer Systems may be relatively new to the marketplace, Lancer has a storied and successful pedigree. Formed by Greene, Tweed's shareholders, Lancer Systems was created to focus efforts on the defense industry and fiber optic connectivity. From weapon systems to armored vehicle suspension and artillery, Greene, Tweed has been supplying solutions for a variety of military applications since WWII.
Lancer Systems is a world class team of engineering and manufacturing experts that are committed to developing and delivering innovating material solutions for tomorrow's most advanced warfighter systems. Lancer fills the gap between prime contractor and component manufacturer. Lancer's customer-centric philosophy is all about collaborative business relationships, adding value and delivering quality product on time.
For additional information, contact Lancer Systems at 1-610-973-2600, email info@lancer-systems.com or visit our Website at www.lancer-systems.com.
About BlastGard International, Inc.
BlastGard International, Inc. creates, designs, develops, manufactures and markets proprietary blast mitigation materials. The Company's patent-pending BlastWrap(R) technology effectively mitigates blast effects and suppresses post-blast fires. This unique technology is being used to create new, finished products or to retrofit to existing products. BlastWrap(R) is a market leading product from which blast protection solutions are built to save lives and reduce damage to valuable assets from explosions. Additional information on BlastGard can be found at blastgardintl.com. |
