Valley Forge Composite Technologies, Inc. Announces New Orders In Excess Of $7,000,000
COVINGTON, Ky., Aug. 18, 2011 /PRNewswire/ -- Valley Forge Composite Technologies, Inc. ('Valley Forge', or 'The Company', OTCBB: VLYF), developer of cargo/baggage detection equipment and instruments, reported that it has received an order for its momentum wheel line of products in excess of $7,000,000.
Valley Forge CEO Lou Brothers said, "This is another significant order from a satisfied customer. It confirms our position in the instrument market." Valley Forge's total backlog now stands at more than $15,000,000, and should yield higher operating margins than previous contracts. The full order is anticipated to be shipped by Spring 2012.
The company expects to announce progress milestones with regards to THOR –LVX in the coming months.
About Valley ForgeValley Forge Composite Technologies, Inc. develops, manufactures and distributes next-generation detection systems and instruments. More information about Valley Forge Composite Technologies, Inc. can be found at www.vlyf.com. Forward-Looking Statement The Private Securities Litigation Reform Act of 1995 provides a 'safe harbor' for certain forward-looking statements. Statements in this press release that relate to Valley Forge Composite Technologies, Inc.'s future plans, objectives, expectations, performance, events, reports made by others and the like, including a statement about the assumptions underlying a forward-looking statement, are forward-looking statements protected by the safe harbor. Investors should understand that future events, risks and uncertainties, individually or in the aggregate, are factors that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. These factors could include changes in economic conditions or government policies that may change the demand for the Company's products and services and could include other factors discussed in the sections of the Company's report on Form 10-K for the year ended 31 December, 2010 as filed with the U.S. Securities and Exchange Commission, entitled 'Business,' 'Management's Discussion and Analysis of Financial Condition and Results of Operations' and 'Risk Factors.' This release is comprised of interrelated information that must be interpreted in the context of all of the information provided and care should be exercised not to consider portions of this release out of context. Investments in the Company should be considered speculative and prior to acquisition, should be thoroughly researched. Valley Forge Composite Technologies, Inc. does not intend to update these forward-looking statements prior to its reporting of its quarterly or annual results. ContactValley Forge Composite Technologies, Inc.Roe Brothers firstname.lastname@example.orgTel: (859) 581-5111 SOURCE Valley Forge Composite Technologies, Inc.
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