Mattman Specialty Vehicles to Build Mobile Command Center for Los Angeles International Airport Police Department
SAN MARCOS, Calif.--Feb. 2, 20064, 2006--Mattman Specialty Vehicle, Inc. (OTC:MMSV) (www.mattmanvehicles.com), today announced that it has been awarded the contract to design and build a mobile command center for the Los Angeles Airport Police Department. Serving Los Angeles International Airport, one of the world's largest airports, this mobile command center will provide the police department the capability to respond to any incident with mobile, state-of-the-art communication equipment. This mobile, self-contained unit has complete communications and control functionality for supporting the law enforcement efforts at the airport. The mobility provides officers the ability to work at any incident site with all the resources they would have at the police head quarters, but with much faster response time. In addition to the police, other emergency responders will have use of the unit.MMSV designs and manufactures vehicles for a broad array of clientele, including federal and municipal law enforcement agencies, fire departments, medical establishments, Fortune 500 corporations, airports and others. Mattman custom engineers modifications to production vehicles based on its client's specific need for interoperability, weapons access, protection level and aesthetic appeal. Mattman has established an enviable reputation in the industry by providing the finest quality specialty vehicles for over a decade.
Barrie Cropper, CEO of Mattman Specialty Vehicles, believes this vehicle to be the first of its kind with this level of technological sophistication to be delivered to a major international airport. With more than 350 major airports worldwide, there is certain to be global interest in this vehicle, and Cropper anticipates substantial demand from other airports. Such has been the case in other instances when Mattman has delivered its highly respected products into other Security and Law Enforcement markets worldwide.
Mattman has experienced strong growth in recent years, with a current growth rate of in excess of 40%. Sales for fiscal year 2005 totaled $9.9 million. Mattman's current backlog is in excess of $14.0 million. Mattman projects 2006 end of year sales to be approximately $14 million with gross margins remaining in excess of 20%. Earnings before interest, taxes, depreciation and amortization ("EBITDA") for fiscal 2005 was approximately $550,000 and is expected to double in 2006 to approximately $1 million.
ABOUT MATTMAN
Mattman was formed in 1983 by former Secret Service agent Jurg Mattman. The Company's primary service was dignitary and VIP protection. In 1984, Mattman was selected by the Los Angeles Olympic Organizing Committee and AT&T to provide the security for the 1984 Olympic Torch Relay. In 1986, Mattman provided nation-wide security for the event Hands Across America. Gaining recognition as experts in mega-events, the company provided risk management and security for Miller Brewing Mattman's "Biggest Party in History" and a Philip Morris sponsored nationwide tour of the Bill of Rights in 1989 and 1990-1991, respectively.
The Bill of Rights tour required a mobile command post to be used by 26 former U.S. Marine Embassy Guards. Mattman's design and production of the unit thrust the Company into the specialty vehicles business in 1990. Since that time, Mattman has exited the VIP protection business to focus exclusively on specialty vehicle production and has built over 500 units for medical and educational institutions, law enforcement and commercial markets. Mattman has achieved a reputation as a leading manufacturer of mobile units for law enforcement, medical institutions and Fortune 500 corporations. Mattman units can be found as far as Beijing, Siberia, Egypt and Venezuela. Law enforcement command and tactical units are spread throughout the country from Logan Airport to Orlando, Washington State, to San Diego. Mattman's goal has always been to provide the highest quality commercial use specialty vehicles available with durability and aesthetics as its top priority. Private industry customers who have come to recognize Mattman's quality include Bank of America, Philip Morris Companies, Black and Decker, McDonalds, Hormel Foods, Nokia, Sony, Bilstein Corporation of America, EG&G Astrophysics, as well as the numerous law enforcement agencies listed in our references.
Mattman's production facility is located in San Marcos, Calif., which is in north San Diego County. A new 29,000 square foot building houses all aspects of its manufacturing process except painting.
What sets Mattman apart from the majority of manufacturers is commercial grade construction, attention to detail and documented quality control performed on a daily basis.
FORWARD-LOOKING STATEMENTS:
Statements about Mattman's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. Mattman's actual results could differ materially from expected results. Mattman undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release; Mattman will appropriately inform the public.