Armor Holdings gets $32M contract

Feb. 28, 2006 at 2:10 PM
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WASHINGTON, Feb. 28 (UPI) -- Armor Holdings, Inc., received another order worth $32 million for ceramic plates for military body armor, the company announced Tuesday.

The Jacksonville, Fla., manufacturer of security products and vehicle armor took the order as part of a larger $461 million contract with the U.S. Army Research, Development & Engineering Command.

Work under $32 million body armor contract will continue to be performed at the Armor Holdings Aerospace & Defense Group facilities in Phoenix, Ariz. The plating will be delivered to the Army by October. The Army has issued more than 700,000 sets of body armor.

On Monday, Armor Holdings announced a $1.1 billion deal to purchase military truck manufacturer Stewart & Stevenson Services. Pending shareholder approval, the deal is expected to be completed in May, and will put Armor Holdings into the vehicle business for the first time. It currently provides armor plating for military vehicles. Stewart & Stevenson is one of the manufacturers of the family of medium tactical vehicles.

Armor Holdings' sales have quadrupled with the onset of war in Iraq, where at least 600,000 individual soldiers have rotated through. In 2005, it reported sales of $1.6 billion, up from about $360 billion in 2003 when the war began.

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