1,200 Cargo Drop 'Chutes To Be Manufactured At NC Facility
Ballistic Recovery Systems announced
last week that it has been awarded a $4.1 million military contract
to provide 1,200 G-12 cargo parachutes to the US Army through
August 2010. An option for an additional 1,500 systems may be
exercised by the Army once this initial batch is delivered,
equating to an additional $5.1million contract, or a total
potential of $9.2M in revenue if fully realized.
The G-12 is a heavy capacity, 64-foot diameter parachute
designed for the aerial delivery of between 500-3,500 lbs of
bulk-type, platform loaded cargo.
A significant win for BRS, this contract will require the hiring
of a significant number of new employees bringing the total head
count at BRS's Pinebluff, NC production facility, where the bulk of
this contract will be fulfilled, to close to 95 staff.
"This win couldn't have come at a more opportune time for us,"
said BRS CEO & President, Larry Williams. "We have invested
heavily over the past couple of years in our North Carolina and
Minnesota headquarters facilities to position ourselves to win
exactly these kinds of contracts."
"We are now beginning to see the payoff of these efforts and the
realization by government agencies, such as the Army, that BRS can
combine best value options with high quality standards for their
needs. After all, we've been saving lives through our core
whole-aircraft parachute product line for over 29 years. We know
how to make reliable and high quality parachute systems, and this
win reflects that reality," concluded Williams.
As with the recently announced B-52 parachute win, BRS's
manufacturing facility in Pinebluff, NC known as BRS Defense, will
be the primary production location for this contract. "We will be
ramping up very quickly over the next few weeks to meet the
delivery dates the Army desires," says BRS Defense General Manager,
Norman Girdwood.
"This is excellent news for our community. We are especially
excited to be able to prove to the Army that the story we have
touted for several months now, regarding the capital infrastructure
and process improvements we have made, is real. We see this as a
very positive indication of the trust the government has in our
abilities," Girdwood added.
This is the second military contract awarded to BRS within the
past 30 days. BRS has now won $5.3 million in military contracts to
date in its current fiscal year which began October 1, 2008.