VIENNA, Va., Sept. 7, 2000 (PRIMEZONE) -- Allied Research Corporation (AMEX:ALR) said today that its Belgian defense unit, MECAR S.A., has received a $21 million contract from a Middle East country customer. The contract calls for a range of medium-caliber conventional ammunition to be delivered over the next 12 months.
"This contract is a further example of the close knit and technical relationship that exists between our defense customers and MECAR S.A., said Mr. Glenn Yarborough, President and Chief Executive Officer of Allied Research.
"As a result of this contract, our consolidated backlog is strengthened, and the outlook for 2000 and 2001 is superb," Mr. Yarborough added. "Our current workload is providing us the opportunity to have a very nice year in 2000."
"We are proud of the great work MECAR does and their contribution to the overall success of Allied Research. Its new products are being well received by long-time customers plus new markets are being opened as a result of MECAR's expanded marketing efforts. We are pleased with the dedication and the results that MECAR delivers," Mr. Yarborough concluded.
Allied Research Corporation is a defense and commercial electronic security firm. Its operating units develop and produce ammunition. In addition, they design, produce and market sophisticated electronic security and access control systems.
Certain statements contained herein are "forward looking" statements as such term is defined in the Private Securities Litigation Reform Act of 1995. Because statements include risks and uncertainties, actual results may differ materially from those expressed or implied and include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission.