AirBoss Announces New Contracts Valued at up to US$15.6M

AirBoss of America Corp. (TSX: BOS) (OTCQX:ABSSF) (the “Company” or “AirBoss”) today announced that AirBoss Defense Group, AirBoss Manufactured Products’ (“AMP”) defense business, has received an order from armasuisse, in support of Swiss Defense Forces personnel, for ADG Molded AirBoss Lightweight Overboots (“MALO”) and an order from a partner nation, for ADG Low Burden Masks (“LBM”), filters and related accessories. The combined value of these contract awards is expected to be worth up to US$15.6 million.

The MALO contract is a two-year contract, expected to be valued at up to US$9.2 million. The MALO was designed to provide superior protection against chemical and biological threats while providing optimal fit and comfort, and AirBoss overboots have been purchased by over sixty countries, with 6.1 million pairs sold to date. Deliveries under this contract are expected to commence in the third quarter of 2025.

The contract for LBMs, filters and related accessories is expected to be valued at up to US$6.4 million. The LBM is a lightweight military respirator designed to provide optimum weight distribution and minimal breathing resistance and has been sold to multiple partner nations since 2017. Deliveries under this contract are also expected to commence in the third quarter of 2025, with fulfillment expected in the first quarter of 2026.

The Company also advises that it is currently assessing potential delays in the delivery schedule under the previously announced contract for Bandolier lightweight multipurpose energetic systems, valued at up to US$45 million. These delays are related to supply chain constraints affecting certain critical components. The Company continues to work closely with its suppliers and government partners to mitigate these impacts, particularly in light of challenges resulting from the current geopolitical climate, though the timing of future shipments may be adjusted. To date, the Company has completed deliveries valued at US$17 million under this contract and has units worth an additional US$2.5 million in transit. Further updates will be provided as more information becomes available.

“These two new contracts, building upon additional recently-announced awards, highlight the continued positive momentum in our defense business,” said Chris Bitsakakis, President and co-CEO of AirBoss. “At the same time, we are actively managing challenges presented by the current geopolitical climate, the impact of tariff uncertainty and constraints in global supply chains, including the potential impact to delivery timelines under the current Bandolier contract. The defense business remains committed to delivering protective and survivability solutions to our customers and we look forward to continuing to provide these products to ensure the safety of warfighters operating in challenging environments and conditions.”

Source: Airboss