MIAMI --- American Ammunition, Inc. announced today it has been awarded a new Federal Government contract to supply “Green”' Reduced Hazard Ammunition. The contract is for multiple calibers, provides for minimum and maximum amounts of product, and is for an initial one-year term with options to extend the contract for a total of five years.
Total product orders are estimated to be $52,726,200 over the five-year life of the contract. The initial one-year term requirements call for total product estimated at $10,545,240. At this stage of the contract it cannot be determined how much or for what period of time shipments will be made under the contract.
“This is the third Federal Contract Award this fiscal year, and by far the largest we have been fortunate enough to be selected for. This award demonstrates that we are successfully penetrating the highly desirable government procurement sector. We anticipate continued growth in this sector of the market. Our multifaceted approach of building market share is proceeding as planned,” said Andres Fernandez, President and CEO of AAMI.
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 Ammunition Awarded Estimated $52 Million Federal Contract