LONDON (ShareCast) - (Sharecast News) - Avon Rubber announced on Tuesday that its Avon Protection division has been awarded a sole source contract to supply the US Department of Defense (DoD) with the 'M53A1' mask and powered air system, and related accessories.
The London-listed firm said the framework contract, which also covered additional Avon Protection products including the 'ST54' self-contained breathing apparatus, had a maximum value of $246m over a duration of up to seven years, being a five-year base period plus two further one-year extension periods.

It said it anticipated receiving the first order under the contract "shortly", with deliveries expected to begin in the second half of the current financial year ending 30 September.

As it outlined in its 2018 final results, the first order would contribute to the company's expected military revenues for the 2019 financial year.

"This is another significant, multi-year contract for Avon Protection and demonstrates our ongoing focus on technological excellence and innovation leadership as we continue to deliver against our growth strategy," said Avon Rubber chief executive officer Paul McDonald.

"Together with the M69 aircrew mask contract announced at the beginning of the year, this underpins our medium term outlook and provides good visibility of revenues going forward.

"We continue to pursue a number of other identified opportunities with the DoD and rest of world military customers, which give us further confidence in the group's prospects."

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