- Company strengthens board with experienced senior U.S. defense
executive and former U.S. government official
OTTAWA, March 18 /CNW Telbec/ - Allen-Vanguard Corporation (the "Company"
or "Allen-Vanguard") (TSX: VRS) of Ottawa, Canada today announced the
appointment of Dr. Lawrence J. Cavaiola to its board of directors subject to
applicable regulatory and exchange approvals.
Dr. Cavaiola is President of Cavaiola & Associates, LLC, a consulting and
advisory services company focusing on the defense, aerospace, and security
Prior to starting his own company, Dr. Cavaiola held senior positions in
both industry and government in the United States. He was Chairman and Chief
Executive Officer of Thales North America, Inc., the US operations of the
global professional electronics and security company Thales. Before joining
Thales he was the founding President of the Northrop Grumman Ship Systems Full
Service Center, and also served as Vice President for Strategic and Business
Development for Northrop Grumman's shipbuilding sector, including service
under Litton Industries ownership. Prior to joining Litton, Dr. Cavaiola held
senior positions in business and technology development and strategic planning
with both Loral Corporation and Lockheed Martin.
Before moving to the private sector in 1995, Dr. Cavaiola held senior
government positions with the United States Congress and Department of
Defense. He served as Principal Analyst in the Congressional Budget Office; as
a Professional Staff Member and Deputy Staff Director for the Committee on
Armed Services of the United States House of Representatives; as Deputy
Undersecretary of Defense for Acquisition Operations; and as Special Assistant
to the Secretary and Deputy Secretary of Defense.
Dr. Cavaiola spent ten years on active duty with the United States Navy,
serving aboard surface combatant ships and as an Assistant Professor at the
Naval Postgraduate School. He retired in 1995 as a Captain in the United
States Naval Reserve. He is a member of the Chief of Naval Operations
Executive Panel and Chaired the Naval Postgraduate School Board of Advisors.
His awards include the Department of Defense Medal for Distinguished Public
Service and the Legion of Merit.
Dr. Cavaiola graduated with distinction from the United States Naval
Academy in 1969. He holds a Master of Science and Ph.D. in Operations Research
from The Johns Hopkins University, where he was elected to Phi Beta Kappa.
Current and potential sales of Allen-Vanguard security products into U.S.
Department of Defense (DoD) programs are significant, and the Company has for
some time had underway a search for a director with U.S. defense sector
experience. "We are delighted to welcome Dr. Cavaiola to the board," said
David O'Blenis, Chairman of the Allen-Vanguard board of directors. "His
background as a former senior U.S. military officer, government official and
defense industry executive adds an important perspective at the board level as
the Company evolves its strategy in the U.S. defense market."
Forward looking statements
This press release may contain forward-looking statements, which reflect
Allen-Vanguard's current expectations regarding future events, its strategy,
expected performance and condition. Forward-looking statements include
statements that are predictive in nature, that depend upon or refer to future
events or conditions, or that include words such as "expects," "anticipates,"
"plans," "believes," "estimates" or negative versions thereof and similar
expressions. In addition, any statement that may be made concerning future
performance, strategies or prospects, and possible future acquisitions or
dispositions, is also a forward-looking statement. Forward-looking statements
are based on current expectations and projections about future events and are
inherently subject to, among other things, risks, uncertainties and
assumptions about the Company and economic factors. Forward-looking statements
are not promises or guarantees of future performance, and actual events and
results could differ materially from those expressed or implied in any
forward-looking statements made about the Company. Any number of important
factors could contribute to these digressions, including, but not limited to,
general economic, political and market factors in North America and
internationally, interest and foreign exchange rates, global equity and
capital markets, business competition, technological change, changes in
government regulations, unexpected judicial or regulatory proceedings, and
catastrophic events. We stress that the above-mentioned list of important
factors is not exhaustive. We encourage you to consider these and other
factors carefully before making any investment decision and we urge you to
avoid placing undue reliance on forward-looking statements. Further, you
should be aware that the Company disclaims any obligation to publicly update
or revise any such forward-looking statements whether as a result of new
information, future events or otherwise, prior to the release of the next
Management Discussion and Analysis to be released by the Company or except as
required by law.
Allen-Vanguard Corporation supports the mission of military and homeland
security forces around the world with leading proprietary solutions for
protection and counter-measures against hazardous devices of all kinds,
whether chemical, biological, radiological or explosive (CBRNE), including
improvised explosive devices (IEDs) and remotely controlled IEDs (RCIEDs).
Allen-Vanguard equipment is in service in more than 120 countries. Products
include Electronic Counter-Measures ("ECM") equipment for jamming remote
detonation of terrorist devices, specialty security equipment for Explosive
Ordnance Disposal ("EOD"), remote intervention robots for hazardous
applications, and personal protective wear for use in dealing with explosive
and bio-chemical agents. Allen-Vanguard is the developer and/or sole,
worldwide licensee of proprietary technologies such as the Med-Eng bomb suit,
the Defender(TM) and Vanguard(TM) Mk2 bomb disposal robots, and the Universal
Containment System and CASCAD Foam system for blast mitigation and
decontamination of bio-chemical warfare agents. Professional services
encompass counter-IED intelligence, training and advisory services, including
the Triton(TM) Report on terrorist incidents around the world. The Company
operates globally through its wholly-owned subsidiaries under the names
"Allen-Vanguard", "Med-Eng" and "Hazard Management Solutions". Head office
operations are located in Ottawa, Ontario, Canada, with manufacturing
operations in Stoney Creek and Pembroke, Ontario; Ogdensburg, New York;
Tewkesbury, U.K.; and Cork, Ireland; The Company has professional services
operations in Shrivenham, UK, Canada and in the U.S. in Arlington, Virginia,
plus sales offices in Canada, the U.S., the U.K. and Asia. Allen-Vanguard's
shares are listed on The Toronto Stock Exchange (TSX) under the symbol "VRS".
To find out more about Allen-Vanguard Corporation (TSX: VRS), visit our
website at www.allen-vanguard.com.
For further information:
For further information: David Luxton, CEO, (613) 288-5555, (613)