Melksham, UK – Avon Rubber plc has been awarded a sole source requirements contract to supply mask systems to the US Department of Defense (DOD).
The deal includes the delivery of M50 mask systems, related spares and accessories and has an initial maximum value of $50 million (€44.5 million) over a five-year period, said Avon 24 June.
Avon Protection has already received the first order, worth $16.3 million, under this contract, with deliveries expected to start in the second half of the current financial year (ending 30 Sept).
“This sole source M50 sustainment contract… underpins the outlook for our Military business and demonstrates our long-term relationship with this important customer,” said CEO Paul McDonald.
Avon expanded its protection segment with the acquisition of M3’s ballistic protection business in December last year.
The company said the M50 mask system remained an important part of its protection portfolio, with the installed base of over two million masks.
Avon shares have performed particularly strongly over the recent months, despite the Covid-19 impact on industries.
As of 9:00 am 30 June, Avon share prices stood at £3.11 on the London Stock Exchange, up 50% from £2.08 on 2 January.
