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AirBoss of America Corp. (Symbol: ABSSF) is a leading and diversified developer, manufacturer, and provider of innovative survivability solutions, advanced custom rubber compounds, and finished rubber products designed to excel in the most demanding environments. Established in 1989 and headquartered in Newmarket, Ontario, the company operates through two primary divisions: AirBoss Rubber Solutions and AirBoss Manufactured Products.
AirBoss Rubber Solutions is recognized as a top-tier North American custom rubber compounder with an annual capacity of 500 million turn pounds. This division focuses on innovation in custom rubber compounding, aiming to expand its market share through both organic and inorganic growth. It emphasizes a broadening of product offerings through technological advancements and investments in new specialty compounding capabilities.
AirBoss Manufactured Products integrates the former AirBoss Engineered Products and AirBoss Defense Group. This division supplies anti-vibration and rubber-molded solutions to the North American automotive market and other sectors. Additionally, it is a global supplier of personal and respiratory protective equipment and technology for the defense, healthcare, medical, and first responder communities.
Recent achievements underscore AirBoss’s commitment to growth and innovation. The company secured contracts worth up to $57.8 million for its Bandolier multipurpose energetic system, reflecting its expanding footprint in the defense sector. Financially, AirBoss has focused on deleveraging and maintaining robust operations, evidenced by its reduction in borrowings and strategic amendments to its credit facilities to support long-term growth.
For investors and stakeholders, AirBoss presents a solid investment opportunity with its strategic focus on expanding core segments, integrating innovative solutions, and maintaining financial health amidst economic challenges. The company’s shares are publicly traded on the Toronto Stock Exchange under the symbol BOS and on the OTCQX under the symbol ABSSF. For more detailed information, visit www.airboss.com.
AirBoss of America Corp. (TSX: BOS) (OTCQX: ABSSF) has announced the release date for its third quarter 2024 financial results. The company will publish its Q3 results after market close on Wednesday, November 6, 2024, followed by a conference call on Thursday, November 7, 2024, at 9:00 am ET.
Conference call details:
- Dial-in: 1-800-898-3989 or 416-406-0743, access code 3575261#
- Webcast: https://www.gowebcasting.com/13695
AirBoss of America is a diversified company operating through two divisions: AirBoss Rubber Solutions and AirBoss Manufactured Products. The company specializes in custom rubber compounds, anti-vibration solutions, and personal protective equipment for various industries including automotive, defense, healthcare, and first responders.
AirBoss of America Corp. (TSX: BOS) (OTCQX:ABSSF) announced changes to its Board of Directors, effective September 13, 2024. Mary Matthews, who has served since May 2006, is retiring for personal reasons. Jo-Anne O'Connor, President and CEO of Strategem Capital, has been appointed to the board.
Chairman and Co-CEO Gren Schoch expressed gratitude for Matthews' contributions and welcomed O'Connor, citing her extensive experience in financial capital markets and corporate sectors. O'Connor brings over 35 years of experience, including trading large-cap energy, natural resources, and mining stocks for one of Canada's largest banks. She is expected to provide valuable insights as AirBoss moves forward with its strategic transition and explores growth opportunities.
AirBoss of America Corp. (TSX: BOS) (OTCQX:ABSSF) has announced that its subsidiary, AirBoss Defense Group (ADG), has been awarded a contract worth up to US$84 million by the U.S. Department of Health and Human Services for the supply of protective isolation gowns. The contract includes a funded base of US$59 million and an unfunded option of up to US$25 million.
Deliveries are expected to start in Q4 2024 and continue through 2026. The gowns will supply the U.S. Strategic National Stockpile for use during public health emergencies. This contract builds on ADG's history of providing protective equipment to the U.S. government, including previous deliveries of PAPR systems, filters, gloves, and COVID test kits.
AirBoss of America Corp. (TSX: BOS, OTCQX: ABSSF) announced its Q2 2024 results, showing a 16.4% decrease in net sales compared to Q2 2023, mainly due to lower sales and volumes in its AMP and ARS segments.
Net loss increased to $9.57 million from $2.61 million in Q2 2023, with gross profit down by $9.12 million, impacted by a $6.05 million inventory write-down of nitrile gloves and medical gowns.
Adjusted EBITDA for Q2 2024 rose by 17.5% year-over-year but fell by 32.9% year-to-date.
Net debt rose to $92.56 million from $88.21 million as of December 2023. The Board declared a quarterly dividend of C$0.035 per share.
Key highlights include the commencement of shipments under a $45 million defense contract, court approval of a class action lawsuit settlement, and the strategic review by TD Securities to explore value creation alternatives.
Despite economic headwinds, AirBoss is focused on operational execution, cost management, and strategic transitions to drive long-term shareholder value. A conference call will be held on August 14, 2024, to discuss these results.
AirBoss of America Corp. (TSX: BOS) (OTCQX: ABSSF) has announced the release of its second quarter 2024 financial results on August 13, 2024, after market close. A conference call to discuss the results is scheduled for August 14, 2024, at 9:00 am ET. Investors can join via dial-in (1-844-763-8274 or 647-484-8814) or webcast. AirBoss, founded in 1989, is a diversified company operating through two divisions: AirBoss Rubber Solutions, a North American custom rubber compounder, and AirBoss Manufactured Products, supplying anti-vibration and rubber-molded solutions to various sectors, including automotive and defense.
AirBoss of America Corp. (TSX: BOS) (OTCQX: ABSSF) has announced a strategic transition, focusing on its core rubber compounding capabilities and growth opportunities. The company has realigned into two segments: AirBoss Rubber Solutions and AirBoss Manufactured Products.
To assist in this transition, AirBoss has engaged TD Securities Inc. as a financial advisor to explore various strategic alternatives, including acquisitions, divestitures, and financing options, as well as the potential monetization of real estate assets.
While no specific outcomes or timelines are assured, Chairman and Co-CEO Gren Schoch emphasized the commitment to exploring all options to enhance shareholder value and transform AirBoss into a global leader in custom rubber compounding and related industries.
AirBoss of America Corp. announced the results of its Annual General Meeting where directors were elected and auditors appointed. The Company's diversified operations focus on developing survivability solutions, rubber compounds, and finished products for challenging environments.
AirBoss of America Corp. reported its first quarter 2024 results, highlighting a contract award, reduction in borrowings, settlement of a lawsuit, credit facility amendments, and dividend declaration. The Company saw decreased net sales and gross profit, with a focus on operational execution and aggressive deleveraging. Strategic transitions and long-term priorities were emphasized, alongside detailed financial data.
AirBoss of America Corp. (TSX: BOS) (OTCQX:ABSSF) announced that its subsidiary, AirBoss Defense Group, has been awarded a contract valued at up to US$45 million to provide its Bandolier lightweight, multipurpose energetic system to a NATO partner nation. This contract is expected to commence in the second half of 2024 and continue through the end of 2025. The Bandolier is designed to bridge the capability gap between large, complex, single-role explosive charges and standard bulk demolitions, reducing dependence on cumbersome single-role explosives and time-consuming user-constructed charges. President and Co-CEO, Chris Bitsakakis, emphasized the system's adaptability and distinctive features, making it suitable for diverse mission demands. This latest contract is in addition to other recent contracts ADG has received for the Bandolier, totaling US$57.8 million in awards in the past twelve months.
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