On Tuesday, April 30th, 2019, Adams Arms LLC’s assets were publicly auctioned at its facility in Pasco County, Florida, following maturity of its secured loans. The company’s senior secured creditors were the high bidder and are in the process of transferring these assets into a new company, Adams Arms Holdings, LLC (“AA Holdings”). Adams Arms, LLC, after the successful transfer of assets, will be closed.

It was announced and advertised at the beginning of April that Adams Arms LLC’s assets would be auctioned as a turn-key operation, including all tangible and intangible assets. AA Holdings will continue the Adams Arms brand. AA Holdings will fulfill all customer orders and honor all Adams Arms life-time product warranties.

AA Holdings will operate with greater strength and leadership than ever before. The new company will leverage the patents, know-how and commitment to the customer that has been the Adams Arms way since inception of the brand in 2007.  With a clean balance sheet, AA Holdings will be able to focus on providing new products, superb quality, and complete customer satisfaction.  The Adams Arms team is committed to building upon existing relationships and to providing its customers with unique products that are cost effective, robust and meet their needs.

Adams Arms LLC thanks its longtime customers and partners for their business.  AA Holdings will deliver the highest quality that everyone has come to expect from Adams Arms, and will continue to develop new and innovative products. 2019 has seen Adams Arms offer an upgraded P3 series rifles, a 20” .224 Valkyrie rifle, a 9mm Pistol Caliber Carbine, a full line-up of piston-driven AR-pistols, and a next gen slide/slide assemblies for Glock 17 & 19 handguns.  Exciting new products are in development and AA Holdings expects to release them before the end of the year.

Cubic Global Defense to strengthen simulation and digital initiatives with update to business line  

SAN DIEGO – April 29, 2019 – Cubic Corporation (NYSE: CUB) today announced its Cubic Global Defense (CGD) business division appointed three new leaders to its executive team: Mark Schmaltz, vice president and general manager of synthetic/digital solutions; Michael Maughan, vice president of business development and strategy as well as Kenneth Lowe, vice president of financial operations and controller. All three executives will play key roles in Cubic’s transformation journey as it focuses on growth, digital product innovation and new recurring revenue streams.

In addition to its existing Air and Ground Training Solutions business lines, Cubic has created a new Synthetic/Digital Solutions line which consists of its maritime, virtual, immersive and game-based technologies. Synthetic/Digital Solutions will focus on growing Cubic’s simulation and digital transformation initiatives and is comprised of Cubic’s Orlando, Austin and Denmark Studios.

“Cubic Global Defense has a rich history of developing cutting-edge solutions for the U.S. military and our allied nations and we continuously look for new innovative ways to strengthen our business,” said Mike Knowles, president, Cubic Global Defense. “I am very pleased to welcome Mark, Mike and Ken to our team during this significant time as we continue to accelerate our growth and meet our strategic vision.”

Schmaltz, Maughan and Lowe bring diverse backgrounds with skillsets that further allow Cubic to drive innovation and profitable business operations:

• Mark Schmaltz – Schmaltz is a business/program management executive with experience delivering major revenue growth and robust business wins. Prior to Cubic, he worked for Rockwell Collins for over 30 years, where he was responsible for significantly increasing revenue streams in the company’s defense, commercial and training markets globally. He will take on the role of vice president and general manager of synthetic/digital solutions, overseeing Cubic’s Orlando, Austin and Denmark Studios.

• Michael Maughan – Maughan is a business development executive with a background in corporate, engineering, government and military. He was previously the senior director of advanced programs and strategic development for General Atomics. As vice president of business development and strategy, Maughan will be responsible for the global business development efforts across the CGD business, including the implementation and execution of business strategies that align with Cubic’s corporate long-term strategy.

• Kenneth Lowe – Lowe is a finance executive who previously served as the vice president of finance for L3 Technologies’ Electron Devices Division. Lowe will be responsible for the general and cost accounting activities for CGD in his new role as vice president of financial operations and controller. He will drive the financial planning process, including the analysis of return on investments and will execute measures to increase profit and cash flow.

To learn more about Cubic Global Defense, please visit www.cubic.com/training or follow @CubicDefense on Twitter.