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The O'Gara Group, Inc. Receives $2.1 Million Funding within 2005 U.S. Defense Appropriations Bill

CINCINNATI--(BUSINESS WIRE)--Aug. 18, 2004--

Funds to Be Used to Provide U.S. Special Operations Forces with Highly Advanced Night Vision Goggles


The O'Gara Group, Inc. today announced that its subsidiary, Specialized Technical Services, Inc. (STS), received $2.1 million of designated funding within the 2005 U.S. Defense Appropriations Bill. The funding will be used by the U.S. Special Operations Command (SOCOM) to purchase STS's advanced AN/PVS-21 Low Profile Night Vision Goggles (LPNVG) to support their counter-terrorism and low intensity conflict operations around the world.

The AN/PVS-21 Low Profile Night Vision Goggle has a rugged, low-profile binocular design that provides unmatched sensor fusion capabilities in diverse and aggressive operational environments. STS supplies its products to U.S. Special Forces and elite special operation units of many of the United States Allies. Its products are well known in the security and defense industry as the night vision solution for the active, aggressive operator.

"Receiving a line item in the 2005 Defense Appropriations Bill specifying the acquisition of our product strongly validates the strength and uniqueness of our technology," said Michael (Chip) Lennon, Partner and Chief Operating Officer of The O'Gara Group and President of STS. "In the coming months we expect additional orders from various U.S. military organizations as well as orders from several allied governments."

With strong support from Congressman Dave Hobson of the Ohio 7th Congressional District, Senator Mike DeWine, R-Ohio, and Senator George Voinovich, R-Ohio, the Joint House and Senate Conference report included designated funding of $2.1 million for STS's LPNVGs. The Conference report was subsequently signed into law as the 2005 Defense Bill by President Bush on August 5. Special Operations Command (SOCOM) should receive the funding for this requirement in the first quarter of 2005 and should then place the funding on contract with STS for delivery throughout 2005.

"I want to extend my appreciation to Congressman Hobson, Senator DeWine, and Senator Voinovich for their efforts over the past six months in connection with the 2005 Defense Appropriation process," Lennon continued. "These lawmakers have continually demonstrated their commitment to national defense and to providing our troops the best possible technologies in the war against terrorism."

About The O'Gara Group

The O'Gara Group was established to build a global products and services company focused on solutions for counter-terrorism and low intensity conflict. Located in Cincinnati, Ohio, and founded by Thomas O'Gara, the former Chairman of the Board of O'Gara-Hess & Eisenhardt Armoring Company (OHEAC) and Vice Chairman of The Kroll-O'Gara Company, Wilfred (Bill) O'Gara, the former CEO of OHEAC and Co-CEO of The Kroll-O'Gara Company and Michael (Chip) Lennon, the former President of OHEAC and President of the Security and Products Group of The Kroll-O'Gara Company. Together the founders have more than fifty years of experience in management and acquisition of defense and security businesses on a world-wide basis. In 2003 the Company purchased Specialized Technical Services, Inc in Beavercreek, Ohio, a producer of sophisticated military night vision equipment. In 2004 The O'Gara Group formed a strategic partnership with The Walnut Group, a diversified investment firm based in Cincinnati, Ohio.

Certain matters discussed in this press release constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected. The Company may use words such as "anticipates," "believes," "plans," "expects," "intends," "future," "should," and similar expressions to identify forward-looking statements.

Contacts

Coltrin & Associates
Eric Anderson, 212-221-1616 ext.117
eric_anderson@coltrin.com



Source : The O'Gara Group, Inc.

Published on ASDNews: Aug 18, 2004

 

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