Protonex Technology Corp

KDH Defense Systems Awarded Nearly $85.0 Million in Contract Extensions from the U.S. Army to Deliver the Next-Generation Modular Scalable Vest and Blast Pelvic Protection

Eden, NC, September 4, 2018 – KDH Defense Systems, Inc. (“KDH”), a leading manufacturer of American-made, high-performance protective solutions, today announced it has received close to $85.0 million in contract extensions on previously awarded contracts from the U.S. Army. Production will be done at the Company’s Eden, North Carolina manufacturing facility.

The first award is a $61.0 million shared Indefinite Delivery/Indefinite Quantity (“ID/IQ”) contract extension from the Army Contracting Command for the Modular Scalable Vest (MSV) Generation II. Under the terms of the contract (W91CRB-15-D-0021, modification P00019), KDH will produce the MSV Gen II, with an estimated completion date of August 20, 2019. KDH, along with two other companies, was initially awarded a $49.0 million shared firm-fixed-price contract for the Soldier Protection System, Modular Scalable Vest in July 2015.

The second award is a shared ID/IQ contract extension from the Army Contracting Command for Soldier Protection System Torso and Extremity Protection Blast Pelvic Protectors (“BPP”) under contract W91CRB-15-D-0032. The modification issued by the U.S. Army increases the contract ceiling by $23.8 million and extends the ordering period by two years through September 2020. As a result, the Government may place additional delivery orders for a grand total of up to $37.3 million under the terms of this extended contract. KDH was one of three companies to win the initial award in September 2015.

“KDH prides itself on producing and consistently delivering some of the most advanced body armor systems for the U.S. Armed Forces, and protecting the brave men and women serving in the world’s finest military,” stated Dave Herbener, President of KDH. “We are honored by the Government’s trust in us and stand ready to exceed their force protection requirements. Further, we want to thank all of the industry partners that have supported us and look forward to working more closely together to drive innovation and value for all of our customers.”

KDH Defense and Armor Express officially merged in January 2018, creating one of the largest manufacturers and distributors of body armor and protective solutions in the industry. With these latest contract extensions and other awards received post-merger, the Company has grown, and equally important, has leveraged research & development, supply chain relationships and industry know-how to advance its production capabilities and vast product offerings.

“Since the merger, we have focused on leveraging resources, decades of industry knowledge and relationships between our companies,” stated Jim Henderson, Chief Executive Officer of the holding company that owns both KDH Defense Systems and Armor Express. “These synergies have certainly strengthened our competitive position and provide us with significantly more opportunities to enhance our foundation and grow with our partners. That is key to our future – driving long-term collaboration with the supply chain, technology leaders, distributors, and the end-customers who rely on our solutions. Central to our vision and to be the best, we must continuously advance innovation and ensure we exceed customer requirements through unmatched delivery and service.”

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