HICKSVILLE, NY -- (Marketwire) -- 02/02/09 -- American Defense Systems, Inc. ("ADSI") (AMEX: EAG), a leading provider of advanced transparent and opaque armor, architectural hardening and security products for defense and homeland security, has been named a Tier 1 supplier by Caterpillar Inc. (NYSE: CAT), the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines.
The Tier 1 supplier designation means ADSI has been officially selected by Caterpillar to supply, as needed, both transparent and opaque armor for various models of construction equipment under a four-year reset contract which the U.S. Army's TACOM Life Cycle Management Command (LCMC) recently awarded to Caterpillar. ADSI anticipates this rebuild program will include the refurbishing of some existing Crew Protection Kits (CPKs) it had previously supplied directly to TACOM LCMC, as well new ADSI CPK installations.
"This designation by Caterpillar, a world leader in their industry, marks another major milestone for ADSI," said American Defense Systems Chief Executive Officer Anthony J. Piscitelli. "We previously worked with Caterpillar in fulfilling our direct TACOM orders in the design and fitting of CPKs for existing Caterpillar equipment. We look forward to continuing this close relationship as a direct Tier 1 supplier as we receive orders anticipated over the life of their rebuild program."
ADSI's CPKs are custom designed and fitted to offer a maximum amount of security for the operator. The CPK features windows of fully transparent armor, opaque armor siding that has been ATC Aberdeen tested and approved to meet all Operation Iraqi Freedom requirements, a patent-pending combat lock, tool-less emergency egress windows, fortified door hinges and an integrated crew comfort system. The CPKs are modular and can be applied to the vehicle either stateside or in theater. ADSI employs Field Service Representatives (FSRs) that are on the ground in Afghanistan, Iraq and Kuwait to train soldiers on the proper installation techniques and offer on-going expertise and assistance.
For more than 80 years, Caterpillar Inc. has been making progress possible and driving positive and sustainable change on every continent. With 2007 sales and revenues of $44.958 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services. More information is available at www.cat.com.
About the U.S. Army's TACOM Life Cycle Management Command
The U.S. Army's TACOM Life Cycle Management Command (LCMC), formerly known as Tank-automotive and Armaments Command (TACOM), headquartered in Warren, Michigan, is part of AMC, the U.S. Army Materiel Command. TACOM LCMC integrates Army acquisition, logistics, and technology responsibilities, authorities, and processes to enable a closer relationship among all its partner organizations that develop, acquire, and sustain the capabilities provided by ground and soldier systems around the world. Its mission is to provide and sustain mobility, lethality, and survivability for soldiers and our Allies through ground combat, automotive, marine and armaments technologies. With a workforce of approximately 3,000 personnel in Warren and over 18,000 worldwide, TACOM supports over 3,500 fielded systems and over 29,000 components that make those systems work. For more information about TACOM, visit www.tacom.army.mil.
About American Defense Systems
American Defense Systems, Inc. (ADSI) offers advanced solutions in the design, fabrication, and installation of transparent and opaque armor, security doors, windows and curtain wall systems for use by military, law enforcement, homeland defense and corporate customers. ADSI engineers also specialize in developing innovative, functional and aesthetically pleasing security applications for the mobile and fixed infrastructure physical security industry. From the New York Stock Exchange to the battlefields of Iraq and Afghanistan, ADSI proudly protects and serves those who defend, serve and protect us with an uncompromising commitment to safety and excellence. For more information about American Defense Systems, go to www.adsiarmor.com
Some of the statements made by American Defense Systems, Inc. ("ADSI") in this press release, including, without limitation, statements regarding ADSI's anticipated future growth, are forward-looking in nature. ADSI intends that any forward-looking statements shall be covered by the safe harbor provisions for such statements contained in the Private Securities Litigation Reform Act of 1995. Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "may," "will," "should," "expects," "anticipates," "intends," "plans," "believes," "estimates," "predicts," "potential," "forecasts," "continues" and similar expressions are forward-looking statements. ADSI cautions you that forward-looking statements are not guarantees of performance. ADSI undertakes no obligation and disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements involve known and unknown risks and uncertainties that may cause ADSI's actual future results to differ materially from those projected or contemplated in the forward-looking statements. ADSI believes that these risks include, but are not limited to: ADSI's reliance on the U.S. government for a substantial amount of its sales and growth; decreases in U.S. government defense spending; ADSI's ability to contract further with the U.S. Department of Defense; ADSI's ability to comply with complex procurement laws and regulations; competition and other risks associated with the U.S. government bidding process; changes in the U.S. government's procurement practices; ADSI's ability to obtain and maintain required security clearances; ADSI's ability to realize the full amount of revenues reflected in its backlog; ADSI's reliance on certain suppliers; and intense competition and other risks associated with the defense industry in general and the security-related defense sector in particular.
Further, Caterpillar has not placed any orders to date with ADSI relating to the aforementioned four-year reset contract with TACOM and Caterpillar is not obligated to place any such orders.
Additional information concerning these and other important risk factors can be found under the heading "Risk Factors" in ADSI's filings with the Securities and Exchange Commission, including, without limitation, its most recent registration statement on Form 10. Statements in this press release should be evaluated in light of these important factors.