Ceramic Protection Corporation Announces Resolution of Litigation

    Symbol: CEP Exchange: TSX

    SUNRISE, FL, Aug. 2 /CNW/ - Ceramic Protection Corporation ("CPC" or "the
Corporation"), a leading manufacturer and distributor of advanced ballistic
protective products, today announced that it has successfully resolved all
claims and actions in litigation between the Corporation and its subsidiary
and ArmorWorks, LLP. A settlement has been reached between the Corporation and
its subsidiary and ArmorWorks, LLP of Phoenix, Arizona, on all outstanding
claims and actions following binding mediation efforts.
    Commenting on the announcement, Mr. Steve Giordanella, Chief Executive
Officer, stated, "Today's announcement is clearly an excellent result for the
Corporation and its shareholders, removing a great burden in terms of expense
and management time. It has always been the policy of the Corporation to
attempt to resolve disagreements through negotiation and we are pleased with
the outcome of our mediation efforts. The settlement closes past matters of a
complex legal dispute for the Corporation and provides opportunities for the
Corporation to immediately resume a mutually beneficial business relationship
with ArmorWorks, LLP."

    Business of the Corporation

    Ceramic Protection Corporation, headquartered in Sunrise, Florida, USA,
with offices in Newark, Delaware, USA, is a certified manufacturer and
distributor of advanced materials for use in the ballistic protection
marketplace. The Corporation manufactures a wide range of products used to
provide protection for personnel and vehicles, including a wide range of
ceramic armour products and multiple composite-based products. In conjunction
with its wholly owned subsidiary Ceramic Protection Corporation of America of
Newark, Delaware, the Corporation also manufactures a wide range of boron
carbide, silicon carbide and polyethylene products for use in personnel armour
systems. PPI of Sunrise, Florida, manufactures a growing range of soft armour
products for the law enforcement and military markets.

    Forward Looking Statements

    This release may contain forward looking statements including
expectations of future sales, cash flow, and earnings. These statements are
based on current expectations that involve a number of risks and uncertainties
that could cause actual results to differ from those anticipated. These risks
include, but are not limited to, uncertainties associated with the defense
industry, commodity prices, exchange rate fluctuations, and risks resulting
from potential delays, appeals or changes related to government orders in the
defense sector.
    The Corporation depends on reliable supplies of high quality source
materials used in the manufacturing of armour products, including aramid
fabrics and polyethylene materials, and works actively with key suppliers to
ensure that requirements and demands for these materials are anticipated and
properly met. The foregoing is not exhaustive and other risks are detailed
from time to time in other disclosure filings of the Corporation.
    Should one or more of these risks or uncertainties materialize, or should
stated assumptions underlying the forward looking statements prove incorrect,
actual results may vary materially from those described herein as anticipated,
believed, estimated or expected. The reader is also referred to other
uncertainties and risks discussed in detail in the MD&A section of the
Corporation's December 31, 2006 Annual Report dated March 20, 2007 and also
the Corporation's Annual Information Form.
    In light of certain sensitive aspects in regard to customers and
products, the Corporation may choose not to disclose all information related
to the purchasers of its products, such as government agencies, countries or
other end-users. Armour products destined for export which are manufactured in
Canada must first be approved by the Canadian Department of Foreign Affairs
and International Trade. Products manufactured for export in the United States
must be approved for export by the appropriate government agencies. Other
armour sales may be made to recognized domestic agencies such as the military
and those involved in local, provincial, or national law enforcement and
homeland security matters.

    Investor Relations

    Analyst and investor relations calls should be addressed to Ms. Grimie
Villarreal, Corporate Investor Relations, at (954) 846-8222.
    Interested parties are also referred to the Corporation's website
www.cerpro.com for further information about the Corporation, its products and
other recent announcements.

    Mr. Steve Giordanella                Mr. Larry Moeller
    Chief Executive Officer              Chairman
    %SEDAR: 00001737E

For further information:

For further information: Analyst and investor relations calls should be
addressed to Ms. Grimie Villarreal, Corporate Investor Relations, at (954)

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890