Point Blank Enterprises Announces New, Four-Year Defense Logistics Agency Contract; Approximately $50 Million In New Orders Expected In Year One

Point Blank Solutions, Inc., the worldwide leader in the production of bulletproof vests and related protective solutions, today announced that it has been awarded a firm-fixed price contract from the Defense Logistics Agency (“DLA”) to provide Improved Outer Tactical Vest and Outer Tactical Vest components to support U.S. Army and U.S. Air Force personnel. This contract has a maximum value of $119.9 million and the Company expects the first year’s value to be approximately $50 million with three, one-year option awards thereafter.

Commenting on this latest award, Jim Henderson, Chief Executive Officer, stated, “We continue to receive large volume orders from the U.S. Military and Government given our past proven performance, our ability to produce high volume quality products on time, and for our never-ending commitment to innovation and safety. We are proud to be a chosen supplier to the U.S. Government and it’s with great pride that we continue to produce life-saving products for America’s servicemen and women.”