New contract success for Avon
15 September 2009 - 4:01PM
UK Regulatory
TIDMAVON
RNS Number : 0453Z
Avon Rubber PLC
15 September 2009
Strictly embargoed until 07:00 15th September 2009
AVON RUBBER p.l.c.
("Avon", the "Group" or the "Company")
NEW CONTRACT SUCCESS FOR AVON
Avon has received a new 5 year contract award from the US Department of Defense
(DoD) for the M53 Protective Mask. The M53 system is a new derivative of the M50
respirator and provides capability for use with all recognised forms of Personal
Protection Equipment (PPE). The initial order under this contract is for $3.7m
with an overall potential of $43.4m.
The M53 systems are to be delivered to the United States Department of Defense,
the United States Coast Guard and the United States National Guard, opening a
new customer base for Avon.
Avon also announces the completion of the sale and leaseback of their Avon Dairy
Solutions facility in Johnson Creek, Wisconsin, USA to Robin Associates LLC. The
transaction has a sale value of $5.2m (GBP3.1m) and will generate $4.0m
(GBP2.4m) of net cash after fees, taxation and other associated costs. These
proceeds will be used to pay down debt. The book value of the asset was GBP0.8m
resulting in a profit (before taxation) on disposal of GBP2.1m which will be
treated as an exceptional operating item in 2009.
<end>
For further enquiries, please contact:
+-----------------------------------------+-------+--------------------------------+
| Avon Rubber p.l.c. | |
+-----------------------------------------+----------------------------------------+
| Peter Slabbert, Chief Executive | 01225 896831 |
+-----------------------------------------+----------------------------------------+
| Andrew Lewis, Group Finance Director | 01225 896830 |
+-----------------------------------------+----------------------------------------+
| Fiona Stewart, Corporate Communications | 01225 896871 |
| Executive | |
+-------------------------------------------------+--------------------------------+
| Weber Shandwick Financial | |
+-----------------------------------------+----------------------------------------+
| Nick Oborne | 020 7067 0700 |
+-----------------------------------------+----------------------------------------+
| Clare Thomas | |
+-----------------------------------------+-------+--------------------------------+
NOTES TO EDITORS: Avon Rubber p.l.c. is a world leader in the design, test and
manufacture of advanced Chemical, Biological, Radiological and Nuclear (CBRN)
respiratory protection solutions to the worlds military, law enforcement, first
responder, emergency services, fire and industrial markets. Avon has a unique
capability in CBRN protection based on a range of advanced CBRN technologies in
respirator design, filtration and compressed air breathing apparatus. This
enables Avon to develop specialised solutions that take full account of user
requirements. Avon also owns a world leading dairy business manufacturing liners
and tubing for the automated milking process. For further information please
visit the Group's website www.avon-rubber.com
This information is provided by RNS
The company news service from the London Stock Exchange
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