VIENNA, Va., August 4, 2000 (PRIMEZONE) -- Allied Research Corporation (AMEX:ALR), a diversified defense and commercial electronic security firm, announced today it has received an ammunition contract for a new South American market country, thus increasing its penetration on this important continent. The $500,000 contract calls for delivery of advanced 76mm-ammunition developed and produced by MECAR S.A., Allied's Belgian subsidiary.
"We are most grateful to our new customer for this order. While not as large as many others we have received in the last several months, it is really just as important since it opens an entirely new market for MECAR's complete range of munitions," said Glenn Yarborough, President and Chief Executive Officer of Allied Research Corporation. "Plus, this contract proves that MECAR can market far outside its historic marketing area. The key is an aggressive sales staff offering advanced, conventional ammunition that is unsurpassed for effectiveness and total reliability." Mr. Yarborough continued.
"Our backlog is substantial, and composed of highly profitable business. The year 2000 will be one of our better years. This is a real tribute to our entire team that has worked so hard to make the big improvements we are now starting to see," 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 commercial 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.