American Defense Systems Inc (ADFS)

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ADFS: American Defense Systems, Inc. (ADSI) enters into a Purchase Agreement with Caterpillar Inc. to supply Armor Kits on their 279D vehicle.

http://www.otcmarkets.com/stock/ADFS/news?id=77549

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March 17, 2014- American Defense Systems Inc. (ADSI) announced today that it has entered into a purchase agreement with Caterpillar to supply a minimum of 24 armor kits on Caterpillar’s 279D vehicle. ADSI expects to receive approximately $1.35M in revenue (which is approximately 55% of ADSI’s revenue for 2013) from the purchase agreement, the work will be completed and vehicles delivered in the 2nd and 3rd qtrs. of 2014.
ADSI’s President, Dale Scales, said: “The Purchase Agreement with Caterpillar has been a culmination of hard work on our business strategy to develop relationships with Original Equipment Manufacturers (OEM), who receive the majority of the prime armor contracts from the US government.” In addition to Caterpillar, ADSI is currently working with Terex, JCB and Mac Defense Corporation on other potential contract opportunities.

About ADSI
American Defense Systems Inc. develops, engineers and manufactures security and safety solutions for the physical security industry. The company designs, fabricates and installs transparent and opaque armor kits, security doors, ballistic windows and curtain wall systems. Through its subsidiary American Physical Security Group (APSG), the company provides a complete line of Anti- Ram vehicle barriers as well as forced entry ballistic resistant and blast mitigation doors, louvers, and security stations. ADSI and APSG proudly serve the DOD, US military, US government bases and embassies as well as commercial, financial and industrial centers throughout the world