Ava Risk Group Limited (ASX: AVA) (Ava Group or Company) provides the following market update with respect to a material order received today from the Australian Department of Defence (AU DoD):
- $2.4m order value
- Delivery schedule to commence May 2020
- Entire order to be delivered and recognised as revenue prior to 31 December 2020
Ava’s BQT Solutions has today received an order from the AU DoD for its high-security, custom encrypted, access control technology, for deployment across Defence facilities and bases located all around Australia.
The order has been placed pursuant to a contract entered into with the Australia Governement which contains customary terms and condtions of supply. Fulfilment of the order will progress rapidly, with the first of many batches of systems expected to be shipped in May 20. The current expectation is that the entire order will be completed in H1 FY2021.
This order from the AU DoD is yet another affirmation of the suitability of our world-class products for large scale programs that require a close working relationship between the manufactuer, installers and end users.
Ava Group CEO Scott Basham said: “Receiving this order today from the Department of Defence for our BQT Solutions access control technology is excellent news. BQT Solutions has had an enduring relationship with the our military, and has long been a provider of choice for advanced mission-critical technology solutions to protect vital national infrastructure. This order also reflects the success of our efforts to focus on wining more strategic program sales with major government agencies and corporate entities all around the world. When you look at the type and nature of the organisations who choose Ava’s technologies, you can immediately tell that we operate at the serious end of the security spectrum.”
For further information, please contact:
|Scott Basham, CEO & Executive Director||Leigh Davis, CFO & Company Secretary|
|Ava Risk Group Ltd||Ava Risk Group Ltd|
|+61 3 9590 3100||+61 3 9590 3103|
Approved for release for and on behalf of the Board of Directors by:
About the Ava Group
The Ava Group, comprising world leading technology divisions Future Fibre Technologies (FFT) and BQT Solutions (BQT) is a market leader in the provision of risk management services and technologies, trusted by some of the most security conscious commercial, industrial, military and government clients in the world.
The Group features a range of complementary solutions including intrusion detection for perimeters, pipelines and data networks, biometric and card access control as well as the secure international logistics (Ava Global) and storage of high value assets. Through decades of innovation, the Ava Group continues to build upon a comprehensive portfolio of premium services and technologies for the most complex and demanding markets.
Our business truly serves a global market, with our knowledgeable team spread across six continents, providing market and industry expertise directly to customers. With thousands of sites protected, the Ava Group is proven to deliver first class services and technologies that surpass the expectations of our partners and end users.
Forward Looking Statements
Information in this release is for general information purposes only. Certain statements in this document regarding the Company’s financial position, business strategy and objectives, contain forward-looking statements (rather than being based on historical or current facts) and as such, are not able to be verified.
All forward-looking statements are based on the current views of the Company’s management as well as reasonable assumptions made by, and information currently available to the Company’s management. Forward-looking statements are inherently uncertain and must be read accordingly. There can be no assurance that some or all of the underlying assumptions will prove to be valid. If assumptions are invalid this is likely to have an impact on the accuracy of the statement itself.
All data presented in this document reflects the current views of the Company with respect to future events. Forward-looking statements are subject to a variety of risks, uncertainties and assumptions relating to the operations, results of operations, growth strategy and liquidity of the Company. Forward looking statements are also subject to external matters outside the control of the Company.
To the maximum extent permitted by law, the Company, its officers, employees and agents do not assume any obligation to release any updates or revisions to the information (including any forward looking statements) in this presentation to reflect any change to expectations or assumptions; and disclaim all responsibility and liability for any loss arising from reliance on this presentation or its content.