CLEARWATER, Fla., May 24, 2011 (GLOBE NEWSWIRE) -- BlastGard International, Inc. (OTCBB:BLGA) ("BlastGard" or the "Company"), is pleased to announce that its recently acquired subsidiary HighCom Security, Inc ("HighCom"), a worldwide security equipment provider has been reinstated as a contractor by the U.S. Department of the Army. The suspension, which came into effect March 16, 2010 was terminated on April 26, 2011 which now allows HighCom future contracting with any agency In the executive branch of the United States Government.
The suspension was ended upon a request by BlastGard earlier this year as a result of the change in ownership and control of HighCom; specifically HighCom's successfully completion of the U.S. State Department DDTC corporate restructuring program.
Michael Gordon, CEO of BlastGard stated, "We are glad the U.S. State Department has decided to lift its policy of denying HighCom an export license. Our hard work in restructuring and implementing remedial measures at HighCom, such as instituting a written code of ethics as well as a monitoring program to ensure employees comply with applicable regulations are being acknowledged and rewarded."
About BlastGard International, Inc.
BlastGard International, Inc., doing business as BlastGard Defense Group, manufactures and markets proprietary blast mitigation materials through BlastGard International and designs, manufactures and distributes a unique range of leading security products and personal protective gear through HighCom Security. The Company's patent-pending BlastWrap® technology effectively mitigates blast effects and suppresses post-blast fires. This unique technology can be used to create new, finished products or be used to retrofit to existing products. BlastGard's core market focus is on blast effects mitigation for the commercial sector, military, law enforcement and government agencies. HighCom provides a wide range of security products and personal protective gear (including tactical armor) that are tailored and offer protection solutions to specific customer requirements. Given the equipment and ballistic protection solutions provided by HighCom, compliance with the U.S. Department of Commerce, U.S. Department of State, U.S. Department of the Treasury and all other governmental agencies' regulations is a high priority. HighCom has sold its products in the defense and law enforcement sectors and is known for innovative technology, exceptional customer service and superior quality performance. Additional information on BlastGard Defense Group's companies can be found at ; ; and .
"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.
CONTACT: Company Contact: BlastGard International, Inc. Michael J. Gordon (727) 592-9400