Major deal boosts stock

Allen-Vanguard Corp.’s Allen%20Vanguard.jpgpartner Lockheed Martin signs a three-year agreement to provide the US Army with as many as 7,500 electronic bomb jammer systems, a deal which could increase the Ottawa company’s revenue by up to $100 million a year. The threat countermeasures systems maker says that the US Department of Defense has given notice of intent to establish an indefinite delivery/indefinite quantity (IDIQ) contract to buy up to 2,500 per year of Lockheed Martin’s Symphony improvised explosive device (IED) countermeasure systems, for which Allen-Vanguard makes components. The announcement of the deal saw Allan-Vanguard shares jump roughly 41%.

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