Allied Research Corporation Belgian Unit Receives $3 Million Ammunition Contract for a New Customer.VIENNA, Virginia--(BUSINESS WIRE)--June 23, 1999-- Allied Research Corporation (AMEX AMEX See: American Stock Exchange :ALR ALR Administrative License Revocation ALR Agricultural Land Reserve (Canada) ALR Automatic Locking Retractor (seat belts) ALR Australian Law Reports (University of Tasmania Library) ), a diversified defense and commercial electronic security firm, said today that its Belgian subsidiary, MECAR S.A., had received a $3 million contract for 90mm ammunition. The contract is with a new customer country, not otherwise identified. This contract is scheduled for delivery starting in 1999. This brings new awards to ARC for the month of June to $48 million and raises the backlog to $65 million. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Dr. J Noun 1. Dr. J - United States basketball forward (born in 1950) Erving, Julius Erving, Julius Winfield Erving . R. Sculley, Chairman and Chief Executive Officer of Allied Research: "This contract represents another step in our strategy of building alliances and cooperating closely with defense agencies and major defense firms to develop ammunition that is exactly matched to particular requirements of gun and vehicle makers. "This contract calls for 90mm rounds, all developed by MECAR S.A. to meet the needs of a newly-developed weapons system, the 90mm Mark VIII. The customer has recently purchased substantial numbers of such weapons systems. The ammunition to be purchased via this contract represents a very small portion of the ammunition needed to outfit the weapons systems and does not include war reserves Stocks of materiel amassed in peacetime to meet the increase in military requirements consequent upon an outbreak of war. War reserves are intended to provide the interim support essential to sustain operations until resupply can be effected. . We are hopeful that follow-on contracts will be awarded to us by this customer." Allied Research Corporation is a defense and electronic security firm. Its operating units operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon develop and produce ammunition and weapon systems; supply equipment performance upgrades for defense departments worldwide; and design, produce and market sophisticated electronic security and access control systems. Certain statements contained herein are "forward looking" statements as such term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied. Factors that could cause actual results to differ materially from those expressed or implied include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission. |
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