MIAMI --- American Ammunition, Inc. announced today that it received an order for 1,265,000 rounds of ammunition under the multiyear federal contract with the United States Department of State previously announced on July 7, 2003. Delivery is to be made on or before November 17, 2003 and the military-grade.223 rifle ammunition is destined for the Colombian National Police, its end-user.
We are pleased that orders are being placed promptly under this recently awarded contract. AAMI is in the position to fill any and all orders under the contract. This contract along with others is significantly increasing our sales exports and will keep our business healthy, said Andres Fernandez, President and CEO of American Ammunition, Inc.
AAMI is an autonomous manufacturer of ammunition, with the technology and equipment to take advantage of the growing market. It has an excellent reputation within the industry. The ammunition industry has experienced a 28% average increase in revenues annually between 1991 through 1998, and the trend is expected to continue through the year 2005 and beyond.
American Ammo Receives 1.26M Round Contract