Keeping the public safe is no easy task. Our police, military, security officers, etc. put their lives on the line every day to ensure the rights of the rest of the free world are protected. It goes on most of the time without the general population even giving it much thought, but its importance is unparalleled.
Companies such as Pacific Safety Products (TSX-Venture: PSP) are fully aware of the importance of these people, though. In fact, the Company is 100% dedicated towards, as their mission statement says, to "bring everyday heroes home safely." Operating out of two Canadian facilities; one in Kelowna, British Columbia and the other in Arnprior, Ontario, the Company is committed to producing the most advanced safety products for the defense and security industries through its design, production and research facilities.
In fact, the Kelowna branch has one of the most cutting-edge ballistic research labs in North America. PSP also has a facility in the United States, Sentry Armor Systems Inc., which is based in Dover, Tennessee. Throughout all the units, PSP manufactures and markets products such as ballistic, stab and fragment protection vests; bomb and land mine retrieval suits; tactical clothing; emergency medical kits and rescue equipment.
Pacific Safety Products operates through three distinct sales units, comprised of government products, law enforcement products and emergency and industrial safety products. All of the Companies products are marketed under the labels Pacific Emergency Products, PROTECTED by PSP™ and Explosafe™.
Additionally, PSP has recently launch its new NIJ.06-certified body armor product lines which have resulted quickly in being awarded contracts for the new LiteX IIIA and LiteX II orders with police forces in British Columbia and Ontario. The orders are initially valued at over $300,000 and a follow on value of over $800,000 throughout 2011.
News was released today by PSP regarding a significant order being received through its U.S. subsidiary, Sentry Armor Systems. The order, which is valued at over $2 million, is for PSP tactical body armour and will be manufactured at the Dover, Tennessee plant. The body armor is sold under Pacific’s "GH Armor Systems®" logo.
Commenting on the sizeable new order, Doug Lucky, CEO of PSP, stated, "This order is indicative of Pacific Safety Product's growth strategy for the U.S. market and reflects customer confidence in our ability to deliver a large volume of quality product over a tight time frame."
Shares of V.PSP are trading up 8.33% today to $0.065 after an intraday spike to eight cents. Shares have climbed off a 52-week low over the last 10 trading days when the share price briefly touched $0.045, but quickly rallied back to a nickel where they have been on a slow and steady rise up 30% to where they are trading today. With solid orders similar to today's coming in for the Company, investors should keep their eye on this Company trading at a market cap of under $2 Million.
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