Airboss Of America Corp.

Airboss Of America Corp.

May 15, 2008 18:54 ET

CORRECTION: AirBoss Awarded Gas Mask Contract May 15, 2008

NEWMARKET, ONTARIO--(Marketwire - May 15, 2008) - A correction is issued with respect to the release disseminated on May 15, 2008 at 4:30 pm EST. The body of the press release was not in relation to the headline. The correct and complete version follows:

AirBoss of America Corp. (TSX:BOS) has received notification from the Canadian Department of National Defense ('DND") that a standing offer contract has been awarded our defense products division, AirBoss-Defense, to supply C-4 gas masks.

The contract includes a base year and two option years. Estimated quantities are for 40,000 masks to be supplied in the base year and 25,000 masks in each of the option years. The total value of the contract, including options, is estimated at $13.3 million. Production of the masks will begin immediately.

AirBoss of America Corp. develops, manufactures, and sells high quality, proprietary rubber-based products offering enhanced performance and productivity to transportation, military and industrial markets. With a capacity to supply over 250 million pounds of rubber annually to a diverse group of rubber manufacturers, AirBoss is also one of North America's largest custom rubber compounding companies. The Company's shares trade on the TSX under the symbol BOS. Visit


Certain statements included herein, including those that express management's expectations or estimates of future developments or AirBoss's future performance, constitute "forward-looking statements" within the meaning of applicable securities laws. Words such as "may", "could" "expects", "anticipates", "forecasts", "plans", "intends" or similar expressions are intended to identify forward-looking statements.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at the time the statements are made, are inherently subject to significant business, economic and competitive uncertainties and contingencies. AirBoss cautions that such forward-looking statements involve known and unknown risks, uncertainties and other risks that may cause AirBoss's actual financial results, performance, or achievements to be materially different from its estimated future results, performance or achievements expressed or implied by those forward-looking statements. Numerous factors could cause actual results to differ materially from those in the forward-looking statements, including without limitation: changes in accounting policies and methods including uncertainties associated with critical accounting assumptions and estimates; AirBoss's ability to maintain existing customers or develop new customers in light of increased competition; cyclical trends in the tire and automotive, construction, mining, retail and rail transportation industries; sufficient availability of raw materials at economical costs; weather conditions affecting raw materials, production and sales; potential product liability and warranty claims; its dependence on key customers; equipment malfunction; changes in the value of the Canadian dollar relative to the US dollar; ability to obtain financing on acceptable terms; environmental damage caused by it and non-compliance with environmental laws and regulations; changes in tax laws, and potential litigation.

This list is not exhaustive of the factors that may affect any of AirBoss's forward-looking statements. Investors are cautioned not to put undue reliance on forward-looking statements. All subsequent written and oral forward-looking statements attributable to AirBoss or persons acting on its behalf are expressly qualified in their entirety by this notice. Whether as a result of new information, future events or otherwise, AirBoss disclaims any intent or obligation to update publicly these forward-looking statements. Risks and uncertainties about AirBoss's business are more fully discussed in the Management's Discussion and Analysis of Financial Condition and Results of Operations in the 2007 Annual Report to Shareholders under the heading "Risk Factors".

Contact Information

  • AirBoss of America Corp.
    R.L. Hagerman
    President & CEO
    (905) 751-1188
    (905) 751-1188 (FAX)
    AirBoss of America Corp.
    Earl Laurie
    AirBoss-Defense Division
    (450) 546-0283