Security technology firm AWTEC Technologies Inc (OTCMKTS:ATWT), which is best known for its child safety products, made a significant announcement with regards to a new contract back on February 25.
The company, which has been in operation since as far back as 1979, is best known for having developed three different child safety devices. The devices in question are meant for protecting children while during transportation to and from homes and schools.
The company has also been awarded patents for these products by the United States Patent Office. It is also important to note that AWTEC is also involved in advocating for legislation that could make it mandatory to use these child safety products in schools. The company has taken up this advocacy on a state-to-state basis.
Back on February 25, AWTEC announced that it bagged a contract for providing as many as 95,000 units of its child safety products. The contract also includes services that the company is going to provide. The total contract is worth as much as $22,477,036.88. In addition to that, it is also necessary to note that a process set up fee of as much as $3,000,000 is included in the contract. At the time, the company stated that it is looking forward to many more such opportunities in the near future.
In addition to that, the company also hopes that the new contract is going to be another step in its efforts to build its brand in the child safety industry. The Chief Executive Officer and President of the company stated at the time that the order indicated the sort of hard work that has been put in by AWTEC Technologies to make its mark in the child safety industry.
He stated that the deal takes AWTEC to the next stage of growth. AWTEC expects to grow at an accelerated rate in 2021 as it foresees many more opportunities in the near future.
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