Pacific Safety Products Inc.
TSX VENTURE : PSP

Pacific Safety Products Inc.

January 03, 2007 09:00 ET

Pacific Safety Products Inc. Secures New DND Contract

KELOWNA, BRITISH COLUMBIA--(CCNMatthews - Jan. 3, 2007) - Pacific Safety Products Inc. (TSX VENTURE:PSP) ("PSP" or "the Company") announced today that it has won a contract to supply Canada's Department of National Defence with Personal Protective Shields. This product will have general purpose use by the Canadian Forces. The total potential order value is approximately $3.0 million with $2.0 million of firm deliveries and an additional $1.0 million in options.

"This award, coupled with other recently announced orders from the Utility and Oil & Gas sectors, confirms PSP's position as the market leader in soft armour for personnel and infrastructure protection. This success reaffirms our Strategic business plan to develop applications which expand our product line and diversify our markets. The Company continues to work closely with the Department of National Defence and the National Research Council to develop further protective products for the Canadian Forces in personnel and vehicle applications," stated CEO David Scott.

Scott added, "We continue to see strong demand for our products and opportunities for developing additional applications through our research & development efforts in Armour, Blast and Fragmentation protection and Chemical & Biological protection. The Company will pursue these valuable business initiatives while continuing to add to shareholder value."

OVERVIEW OF THE BUSINESS

The mission statement of Pacific Safety Products Inc. is ...we bring everyday heroes home safely™. PSP is an established industry leader in the production, distribution and sale of high-performance and high-quality safety products for the defence and security market. These products include body armour to protect against ballistic, stab and fragmentation threats, ballistic blankets to reduce blast effects, and protective products against chemical and biological hazards. PSP is the largest armour manufacturer in Canada and supplies its products to the Canadian Department of Defence, Federal Government Agencies and major law enforcement organizations across the country. The Company, through its U.S. subsidiary Sentry Armor Systems Inc., provides body armour products to U.S. based law enforcement and private security firms. The Company also produces tactical clothing and emergency medical kits.

Pacific Safety Products is a reporting issuer in British Columbia, Alberta and Ontario, Canada and publicly trades under the symbol PSP on the TSX Venture Exchange.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Pacific Safety Products Inc.
    David Scott
    Chief Executive Officer
    (250) 491-0911 or Toll Free: 1-888-PSP-ARMR (1-888-777-2767)
    (250) 491-0930 (FAX)
    Email: dscott@pacsafety.com
    Website: www.pacsafety.com