Unisync Announces Continued Build-Up in Firm DND Orders
October 03 2019 - 10:37AM
Unisync Corp. (TSX: "UNI") (“Unisync") is pleased
to announce that the Department of National Defense (“DND”) has
exercised a further $3.8 million in contract options bringing the
total firm orders under contract to $22.1 million at its Winnipeg
based subsidiary, Peerless Garments LP (“Peerless”). The two
options exercised involve the production of an additional $2.4
million of flyer coveralls and $1.4 million of flame-resistant
tactical helicopter shirts and trousers. There remains a further
$7.6 million in contracted options still outstanding.
With this build-up in firm contracts, we are
expecting a significant improvement in financial performance from
our Peerless business unit as production capacity is ramped up
internally and at sub-contractors.
UNISYNC ON THE MOVE
Unisync is a broad-based vertically integrated
North American enterprise with exceptional capabilities in garment
design, domestic manufacturing, and off-shore outsourcing,
including state-of-the-art web based B2B ordering, distribution,
and program management systems. Unisync operates through two
business units: Unisync Group Limited (“UGL”) and Peerless.
UGL provides full-service, managed apparel
programs for major corporations and government-related entities
through operations across Canada and this year has expanded into
the US marketplace through the establishment of a 45,000 sq. ft.
distribution and service facility in Henderson, Nevada, and a sales
and service facility in Lakewood, New Jersey. The Nevada facility
is now staffed and is receiving, kitting and delivering the first
phase of new uniforms for its first major US based airline account
whose employees are expected to be fully outfitted with their new
image wear by the first half of Fiscal 2020. UGL’s customer base
includes a broad list of North American iconic brands as well as
municipal and provincial agencies across
Canada.
Winnipeg based Peerless specializes in the manufacturing and
distribution of highly technical protective garments, military
operational clothing, and accessories for a broad spectrum of
Federal, Provincial and Municipal government agencies in Canada. It
has been the leading prime contractor for the provision of
operational clothing and accessories to the DND for over 40
years.
For more information on our capabilities,
products and services please visit the Unisync website at
www.unisyncgroup.com .
On Behalf of the Board of Directors
Matthew Graham,
CEO
Investor relations
contact: Douglas F Good, Executive
Chairman
778-370-1725 or Email dgood@unisyncgroup.com
Forward Looking StatementsThis
news release may contain forward-looking statements that involve
known and unknown risk and uncertainties that may cause the
Company’s actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied in these forward-looking
statements. Any forward-looking statements contained herein are
made as of the date of this news release and are expressly
qualified in their entirety by this cautionary statement.
Except as required by law, the Company undertakes no obligation to
publicly update or revise any such forward-looking statements to
reflect any change in its expectations or in events, conditions or
circumstances on which any such forward-looking statements may be
based, or that may affect the likelihood that actual results will
differ from those set forth in the forward-looking statements.
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