''Guardian Technologies Merger Update''; Vairex Corporation in Talks with Nissan To Provide Air Delivery Systems for Fuel Cell Vehicles.Business Editors CAREFREE, Ariz.--(BUSINESS WIRE)--April 25, 2001 Guardian Technologies International, Inc. (Nasdaq:GRDN GRDN Garden (postal suffix) ), in a follow-up to its previously announced execution of a definitive agreement to acquire Vairex Corporation (see Press Release dated 2/20/01), announced today that Vairex, a Boulder, Colorado The City of Boulder (, Mountain Time Zone) is a home rule municipality located in Boulder County, Colorado, United States. Boulder is the 11th most populous city in the State of Colorado, as well as the most populous city and the county fuel cell technology company, is in the process of preparing a proposal to provide engineering and air delivery systems for the fuel cell power plant used in fuel cell vehicles
"Nissan engineers recently visited Vairex to discuss the program," stated Ski Milburn, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Vairex. "Following our meeting we received a detailed letter of interest from Nissan outlining specifications and schedules. We are currently preparing our proposal for submission to Nissan for approval," concluded Milburn. About Vairex (For more information, visit Vairex's website at www.vairex.com) Vairex was founded in 1987, to develop advanced, proprietary, oil free compressor technology for automotive and industrial applications and has been engaged in the emerging fuel cell industry for over six years. The Company's technical leadership has led to two major DOE development contracts and prototype sales to industry leaders such as Ballard, GM, Energy Partners and others. Most recently Vairex has delivered evaluation units to McDermott Technology and Fiat. About Guardian Guardian, through its wholly-owned subsidiary Guardian Security & Safety Products, Inc. (GSSP GSSP Global Boundary Stratotype Sections and Points GSSP Generally-Accepted System Security Principles (NSSOG) GSSP Gifted Student Services Plan (Kentucky Department of Education) ), serves the law enforcement, security and military communities and the global security industry. GSSP's majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. , ForceOne, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , manufactures a variety of high-end ballistic protective equipment including patented personal protection devices commonly referred to as body armor. Guardian, through its wholly-owned subsidiary Guardian Steel, is engaged in structural steel fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. and provides among its products, structural steel used primarily in military base refurbishments and other projects under Federal contract. The statements made in this press release contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations. In addition to the matters described in this press release, risk factors listed from time to time in the Company's SEC reports and filings, including, but not limited to, its report on Form 10-QSB for the quarter ended September 30, 2000 and its report on Form 10-KSB for the year ended December 31, 1999, may affect the results achieved by the Company. |
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