VIENNA, Va., Nov. 8, 2001 (PRIMEZONE) -- Allied Research Corporation (AMEX:ALR) announces its VSK Group received a multi-million dollar security system maintenance contract from the European Parliament in Brussels, Belgium.
The five-year contract calls for The VSK Group to maintain the European Parliament's integrated security management system, including access control, luggage x-ray inspection, CCTV monitoring, fire detection, card access management, parking lot security equipment and other aspects of the Parliament's sophisticated security system.
General (Retired) J.H. Binford Peay, III, Chairman, President and Chief Executive Officer of Allied Research said, "The VSK Group has done a tremendous job in winning this long-term award. Their state-of-the-art products, system integration skills and superior system maintenance reputation combine to give them the winning edge. The VSK Group has been reporting revenues and earnings ahead of 2000 results. A key to their success is increasing interest by corporations and government agencies in sophisticated electronic security installations. This increased interest occurred well before September 11, and I expect this interest will be magnified in the months ahead."
"The VSK Group has recently introduced several new products and systems that are receiving excellent reviews and acceptance by the market. In addition, The VSK Group reported an extensive and very successful marketing effort, and an expanded European dealer network that has resulted in growth, not only in revenues, but in market share as well," General Peay concluded.
About Allied Research Corp.
Allied Research Corporation is a diversified defense and commercial electronic security firm, developing and producing conventional ammunition marketed to defense departments worldwide; and designing, producing and marketing sophisticated electronic security systems for European, Asian and African markets.
For more Information, please visit the Company Web site: www.alliedresearch.com
Certain statements contained herein are "forward-looking" statements as such term is defined in the Private Securities Litigation Reform Act of 1995. Because statements include risks and uncertainties, actual results may differ materially from those expressed or implied and include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission.