Plasan awarded $170 million military contract
What is good for Plasan North America is good for Vermont.
As part of a March contract awarded to Wisconsin-based Oshkosh Corporation to build an additional 1500 M-ATV armored vehicles, Plasan North America, which manufactures armor kits for the vehicles will be the beneficiary of $170 million of the $640 million deal.
This is just the latest in its venture to secure military contracts. In late February, Plasan delivered its 5,000th armor kit for the M-ATVs – armored fighting vehicles developed by Oshkosh – successfully fulfilling all contracts on-time during the seven-month period.
Plasan specializes in the development and manufacture of add-on armor systems for the military and commercial armored vehicle market using composite material technologies. Plasan North America is a part of Plasan SASA based in Israel.
The focus of its core business is the development, manufacture and assembly of Add-On Armor Kits (APK’s) for lightweight military tactical tracked and wheeled armored vehicles, fixed-and rotary-wing aircraft, naval platforms and civilian armored vehicles.
“Plasan is very excited to be a growing part of the Vermont _economy. We are bringing high-value jobs to the region in developing our survivability solutions,” said Plasan spokesman Don Goldberg of Qorvis Communications in Washington, D.C.
The new contract will be geared to the ongoing Afghanistan military operation. Varying from the conditions in Iraq, the Afghan terrain is steeper and required a lighter, more flexible armored vehicle.
Plasan is an asset to the Bennington business community, said Bennington Town Manager Stuart Hurd. “We have been very pleased with all the Plasan contracts. It confirms that they are turning out a good product,” said Hurd.
“Plasan has been a godsend in putting people to work in Bennington with good jobs, good pay and good benefits,” Hurd said.
Plasan’s additional employment offset earlier layoffs in the automotive sector in Bennington, said Hurd. For the most recent quarter, unemployment dropped by half a point in Bennington.
Bennington is also home to Vermont Composites, which works in the aerospace and medical/industrial markets. “We are hopeful to develop a niche in the composite field for additional business opportunities in town,” said Hurd.
Reprinted from The Battenkill Business Journal, Published May 11, 2010
By TRICIA N. HAYES
Positive economic news like this is always nice to hear in the Bennington VT real estate market.
