BlastGard Granted Export Authority From U.S. Department of State's Bureau of Political-Military Affairs
CLEARWATER Fla., May 19, 2011
BlastGard International, Inc. (OTCBB:BLGA) ("BlastGard" or the "Company"), the creator of its proprietary blast mitigation materials and finished products made therefrom, is pleased to announce that it has been granted export authority from the U.S. Department of State's Bureau of Political-Military Affairs. This export license will allow BlastGard to offer its BlastWrap(R) technology based product line to international buyers, which substantially increases its target market size. BlastGard has been providing the U.S. military, law enforcement, government agencies and commercial sector with its patented blast mitigating materials since 2002.
The range of applications for BlastGard's technology is broad. The markets for blast solutions include commercial industries such as explosives manufacturers, commercial transportation, munitions manufacturer, mining etc; armed forces for applications such as munitions and ballistics storage, and transportation; and governments and municipalities (bomb explosions and threats). The demand for blast and fire mitigation is extremely strong. Research suggests that the market for blast mitigation products (including fire suppression systems) was to exceed $6.75 billion in 2009 in North America. In 2007, the overall market for blast mitigation and fire suppression systems in Europe was $603.4 million with a compound annual growth rate of 4.2 per cent forecast until 2014.
Michael Gordon, CEO of BlastGard, stated, "We are very excited about this opportunity. This export authority will open up an entirely new market and allows us to offer our BlastWrap(R) based product range to commercial businesses, military and government agencies worldwide." |
