Armor Holdings Inc (AH), a leading manufacturer and distributor of security products, tactical wheeled vehicles, and vehicle armor systems serving military, law enforcement, homeland security and commercial markets, announced that it has acquired Integrated Textile Systems Inc (ITS), a Monroe, North Carolina-based manufacturer of the high-strength material, Tensylon.
Tensylon, derived from an ultra-high molecular weight polyethylene polymer, has a wide variety of applications, including advanced fiber composites for use in ballistic products.
The Tensylon high performance fiber or tape can be processed into any number of specialty tailored composites, depending on the unique application. This acquisition will allow Armor Holdings to develop complete solutions for emerging blast and ballistic threats by starting with the base material.
While the terms of the acquisition were not disclosed, Armor Holdings plans to make capital investments in excess of $12.0 million over the next two years to significantly increase its Tensylon(TM) capacity, which it expects to utilize largely in force protection products and systems.
The Company's application development phases are largely complete and management plans to qualify Tensylon(TM) into a variety of Armor Holdings' programs including, among others, vehicle armoring applications which are currently underway.
The specific terms of the transaction were not disclosed and while the acquisition is not expected to have an immediate material impact on the Company's 2006 financial outlook, the Company does believe that Tensylon will have a meaningful financial impact on its performance over the next five years.
marketing@alchempro.com
