The agreement, for Airtronic's M203 and M203A products, came through the signing of a private label agreement with the customer, who was not identified.
Airtronic produces small arms and spare parts to the U.S. Department of Defense, foreign militaries, and the law enforcement market, which has been in Chapter 11 Bankruptcy, is to be acquired by Global Digital Solutions Inc. (GDSI), a company that says "it is positioning itself as a leader in providing small arms manufacturing, complementary security and technology solutions and knowledge- based, cyber-related, culturally attuned social consulting in unsettled areas."
GDSI announced the Airtronic's deal, which has a first-stage value of $95 million.
"This is exciting but not completely unexpected news," said GDSI's President and Chief Executive Officer Richard J. Sullivan. "The agreement demonstrates what we have been saying all along: Airtronic is well-positioned for strong growth as a well-respected, advanced small arms manufacturer."
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