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Technology Stocks : Allen-Vanguard Rescue Board

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From: kidl	11/20/2009 8:24:53 AM
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Good for a laugh. Sounds like Luxton wrote this. Allen-Vanguard lands $5M blast seat contract By Bert Hill, The Ottawa CitizenNovember 19, 2009 Allen-Vanguard Corp. is getting new business for protective technology that aims to save lives in roadside explosions. The Ottawa military technology company said Wednesday that General Dynamics has bought $5.2 million in new blast seats for the U.S. army Stryker vehicle used in trouble spots like Afghanistan and Iraq. The contract is welcome news for a company that has struggled for months with choppy sales and heavy debt which forced its sale to U.S. private-equity investors. GD first bought 2,178 blast seats last December for $15.3 million. Chief executive David Luxton said the new product has generated $15 million to $20 million in sales since it was introduced. "The seats offer much more protection than our competitors who simply retrofit existing seats with more protection. They are engineered from the ground up to absorb blasts as part of a smart-system crew survivability program." The heart of protection is still on-board Allen-Vanguard jammer technology to detect and neutralize improvised explosive devices (IEDs). But if the vehicle is hit by an explosion, the crew has a better chance of survival from the blast and from the intense heat that follows. Luxton said there are also sensors that record the impact of a explosion to support future product improvements. GD is the biggest customer but several other customers have bought small quantities that could lead to bigger orders. © Copyright (c) The Ottawa Citizen

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