BlastGard International Announces New Products
July 30, 2008 -- Clearwater, FL -- BlastGard International, Inc. (OTCBB: BLGA), a leading provider of proprietary blast mitigation materials, is pleased to announce that the first complete BlastGard Barrier System ("BBS") has been constructed for demonstration purposes and initial reaction from the Middle Eastern market has been very exciting. We have a number of agents on the ground in this market and based on the overwhelming response to the product, we anticipate that it will become one of our highest volume products. In addition, the company has also completed a technical presentation for our PipeWrap product per our agreement with Orasi, LLC ("Orasi") of Nevada to the Saudi Ministry of Interior and Saudi Aramco and received an excellent review from the participants. Saudi Aramco is the state-owned national oil company of Saudi Arabia and the largest oil corporation in the world. We have appointed an Agent in Saudi to represent this product and are in final stage negotiations with a leading Saudi owned distributor/contractor to handle all installation responsibilities for PipeWrap and BlastGard Barrier Systems. We are very pleased with the progress we have made in the commercialization of our core product over the past year and we now stand ready to capitalize on these new product opportunities.
Andrew McKinnon, Chief Executive Officer and Board member, says "BlastGard has agreed to assist Orasi with its efforts to commercialize Orasi's PipeWrap products and services specifically for an immediate opportunity in the Middle East. The financial arrangement in the agreement calls for the parties to split 50/50 the net revenues developed from the sales of the product over the next year and also gives BlastGard "first right of refusal" for the purchase of the product.
About BlastGard International, Inc.
BlastGard International, Inc. creates designs, develops, manufactures
and markets proprietary blast mitigation materials. The Company's
patent-pending BlastWrap® technology effectively mitigates blast
effects and suppresses post-blast fires. This unique technology is
being used to create new, finished products or to retrofit to existing
products. BlastWrap® is a market leading product from which blast
protection solutions are built to save lives and reduce damage to
valuable assets from explosions. Additional information on BlastGard
can be found at http://www.blastgardintl.com.
"Safe
Harbor" statement under the Private Securities Litigation Reform Act of
1995: Except for historical information, all of the statements,
expectations and assumptions contained in the foregoing are
forward-looking statements that involve a number of risks and
uncertainties. It is possible that the assumptions made by management
are not necessarily the most likely and may not materialize. In
addition, other important factors that could cause actual results to
differ materially include the following: the Company's ability to
market its products; the Company's ability to obtain additional
funding; the Company's ability to obtain regulatory approvals on new
products, the general economy; competitive factors; ability to attract
and retain personnel; the price of the Company's stock; and other risk
factors. The Company takes no obligation to update or correct
forward-looking statements.
Company Contact:
BlastGard International, Inc.
Michael J. Gordon
(727) 592-9400 |
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