ArmorGroup Wins Bomb Clearing Contract in Lebanon

Sep.26.06 | About: Armorgroup Intl. (AMGPF)

On the heels of my last post comes news that ArmorGroup International (OTC:AMGPF) has won a $5.6 million contract to clear a battle area in south Lebanon of unexploded bombs and land mines.

This is good news on two fronts. First, this demonstrates that the company continues making progress in diversifying its business away from Iraq.

And second, this shows the company is making some progress in diversifying its business operations. The vast majority of ArmorGroup's revenues stem from its protective security services. Its other two segments are security training and weapons reduction and mine clearance, both of which have opportunities for growth.

We should note that the bulk of the $5.6 million revenues will only be seen in the firm's accounts next year.

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