SUNRISE, FL, Aug. 1 /CNW/ - Ceramic Protection Corporation ("CPC" or the
"Corporation"), a leading manufacturer and distributor of advanced ballistic
protective products, is pleased to announce that on July 31, 2008, it
completed the domestication process and is now incorporated in the State of
Delaware. The domestication was completed by way of a Plan of Arrangement,
pursuant to which the Corporation discontinued from the jurisdiction of
Alberta, Canada into Delaware under its new name, Protective Products of
America, Inc. The Arrangement was approved by a shareholder vote at a special
meeting on July 28, 2008.
"We are very pleased to be a U.S. company and believe this new status
enhances our opportunities for new and ongoing business with the U.S.
military, federal agencies and law enforcement" said Steve Giordanella, CEO.
"While Ceramic Protection Corporation has a history of excellence to be
proud of, Protective Products of America truly represents the next step in our
business evolution. As a U.S. company, we are more closely aligned with our
customers and markets," Mr. Giordanella added.
Protective Products of America will continue to be traded on the Toronto
Stock Exchange, transitioning from the symbol "CEP" to the new symbol "PPA."
Business of the Corporation
The Corporation is headquartered in Sunrise, Florida, with facilities in
Newark, Delaware and Granite Falls, North Carolina. The Corporation, together
with its subsidiaries, is engaged in the design, manufacture and marketing of
advanced products used to provide ballistic protection for personnel and
vehicles in the military and law enforcement markets. The Corporation's
product portfolio includes lightweight ceramic armour for vehicles and
military personnel, composite based products and concealable soft body armour
products for law enforcement and the Modular Tactical Vest (MTV) ballistic
system for military personnel.
In many high performance applications, such as handling ballistic
threats, products made of advanced technical ceramics meet specifications that
similar products made of metals, plastics or traditional ceramics cannot
achieve. Advanced technical ceramics withstand extremely high velocity
ballistics, combine hardness with light weight, are highly resistant to
corrosion and wear, and have low friction characteristics. Management is of
the opinion that the Corporation is an acknowledged industry leader in the
design, manufacture, and sale of high performance and high quality products
used for ballistic protection. The Corporation's subsidiary, Protective
Products International is an ISO 9001:2000 certified manufacturer. Further,
the Corporation is one of very few companies able to provide customers with an
integrated personnel armouring system of ceramic plates, soft ballistic
material and vests for soldiers.
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
The Corporation depends on reliable supplies of high quality source
materials used in the manufacture 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 May 15,
2008 Interim Report, December 31, 2007 Annual Report dated March 31, 2008 and
also the Corporation's Annual Information Form dated March 31, 2008. These
documents are available on SEDAR (www.sedar.com).
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. Products manufactured for export in the United States must
first be approved for export by the appropriate U.S. 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.
Analyst and investor relations calls should be addressed to Ms. Grimie
Del Valle, 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. Stephen Giordanella Mr. Larry Moeller
Chief Executive Officer Chairman
Sunrise, Florida, USA
August 1, 2008
For further information:
For further information: Ms. Grimie Del Valle, Corporate Investor
Relations, at (954) 846-8222