Avenger Boats Signs Manufacturing Agreement; Completes Contract with General Dynamics.Business Editors KENNEBUNKPORT, Maine--(BUSINESS WIRE)--April 7, 2003 American Boat Builders, Inc and its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Avenger Boats, Inc (www.avengerboats.com) has announced that it has signed a five year manufacturing agreement with Kennedy Ships of Galveston, Texas (www.kennedyship.com) to manufacture Avenger Boats. Frank Kristan, President of Avenger Boats, Inc stated: "We are excited about this new relationship that would involve providing new manufacturing jobs in Texas as the Avenger Boat Program is implemented worldwide for Port Security, the Littoral Combat Ship The Littoral Combat Ship is the first of the U.S. Navy's next-generation surface combatants. Intended as a relatively small surface vessel for operations in the littoral region (close to shore), the LCS is smaller than the Navy's guided missile frigates, and have been compared to and commercial security patrols. " Avenger Boats, Inc has recently completed its contract with Bath Iron Works Bath Iron Works (BIW) is a shipyard located on the Kennebec River in Bath, Maine. Since its foundation in 1884 by Thomas W. Hyde, Bath Iron Works has built private, commercial and military vessels. , a General Dynamics Company (NYSE NYSE See: New York Stock Exchange :GD) to provide logistics and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , including an instructional media design package. The terms of the contract were not disclosed but the media package is now available for worldwide distribution. The company is now evaluating proposals for strategic partnerships for the sales and marketing of the Avenger Boats on a worldwide basis. Avenger Boats, Inc designs, develops and manufactures high performance patrol boats for use in Port Security, Homeland Security, Coast Guard and the Littoral Combat Ship. |
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