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News

Ballistic Barrier Product Agreement Reached

Safeguard Security Holdings : 04 March, 2011  (Company News)
21st Century Armor has entered into an agreement with Safeguard relating to the development of ballistic armour products for protection of critical electrical equipment

Safeguard Security Holdings' subsidiary, SYSTEMSgroup has entered into an agreement with 21st Century Armor Solutions to design and build ballistic barrier products for the electrical distribution companies that it serves.


Max Cook, Vice President, Engineering for SYSTEMSgroup, stated, “We are excited to announce this new product using 21st Century’s latest ballistic composite material, designed to protect critical electrical components in public spaces, such as electrical transformers.” Cook added, “As a sole source security solutions provider, we are constantly looking for ways to mitigate risks and reduce potential loss to our client’s business operations. We anticipate this product will add over $1.5 million in new sales to our revenue stream this calendar year.”


Michael Lagow, CEO to SYSTEMSgroup’s parent company, stated, “Since introducing ballistic products into our product mix, we have significantly enhanced our overall service offerings to our energy clients. In the past six months alone, we have added over $2.6 million in additional contracted revenue with two major utility companies, one with a national reach, potentially doubling the size of our overall company.” Lagow added, “I see this trend of ‘up-scaled’ security continuing with the unrest in the middle-east. These types of ‘value-add’ services and products have a positive impact on our future revenues, earnings and EBITA, creating a very sticky client to us for the long term.”

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