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Lakeland Industries Announces Major Brazilian Contract for Fire Protection Garments RONKONKOMA, NY--(MARKET WIRE)--Nov 4, 2008 -- Lakeland Industries, Inc. (NasdaqGM:LAKE - News), a
market leader in protective apparel, today announced that
its Qualytextil
subsidiary in Brazil has received a contract worth approximately
US$800,000
from the State of Pará to be used for the State of
Pará's firefighters.
This award is representative of the addition of several
new high-caliber
customers doing business with Qualytextil since it was acquired
by Lakeland
in May 2008. Pará will be using Lakeland garments for
fire protection,
while other recently announced contracts involve requirements
for
customized protective clothing for an electric utility and
garments for a
petrochemical giant headquartered in Brazil. Much of the
business
conducted in Brazil is with state owned or state related
customers and is
therefore not as recessionary prone as orders received from
the private
sector. "Our Qualytextil subsidiary is clearly establishing a beach head for Lakeland in Brazil that is setting the stage for increasing our reach into other Latin American markets. Latin American growth contributed to our record setting financial performance in the most recently reported quarter and we see no slow down in this region," said Chris Ryan, CEO of Lakeland. "Through the development of our Brazilian sales, marketing and manufacturing capabilities, we are gaining traction with contract awards from new customers in diverse industries for existing as well as new products. Today's announcement marks the fourth major contract that we have received in less than two months from Brazil. Given Lakeland's position as a low cost provider of high quality protective garments, our relatively small size in a $6 billion and growing global industry positions us for continued growth and improvement of market share." About Lakeland Industries, Inc.: Lakeland Industries, Inc. (NasdaqGM:LAKE - News) manufactures and sells a comprehensive line of safety garments and accessories for the industrial protective clothing market. The Company's products are sold by a direct sales force and through independent sales representatives to a network of over 1000 safety and mill supply distributors. These distributors in turn supply end user industrial customers such as chemical/petrochemical, automobile, steel, glass, construction, smelting, janitorial, pharmaceutical and high technology electronics manufacturers, as well as hospitals and laboratories. In addition, Lakeland supplies federal, state, and local government agencies, fire and police departments, airport crash rescue units, the Department of Defense, the Centers for Disease Control and Prevention, and may other federal and state agencies. Safe Harbor Statement This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements, without limitation, regarding our expectations, beliefs, intentions or strategies regarding the future. We intend that such forward-looking statements be subject to the safe-harbor provided by the Private Securities Litigation Reform Act of 1995. All statements that are not historical are forward-looking. Forward-looking statements may relate to, but are not limited to, the effect of agreements described above but also on our international and total revenues and the size and growth of the Brazilian and International markets for protective apparel. Such forward-looking statements are based upon current information and expectations. These estimates and statements speak only as of the date on which they are made, are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. For more information concerning Lakeland, please visit the Company online at www.lakeland.com. Contact: (Investor Relations)
Contacts:
Lakeland Industries
631-981-9700
Christopher Ryan
CEO
Email Contact
Gary Pokrassa
CFO
Email Contact
701-7 Koehler Avenue, Suite 7
Ronkonkoma, NY 11779
http://www.lakeland.com
Darrow Associates for Lakeland Industries
631-367-1866
Jordan Darrow
Email Contact
Source: Lakeland Industries, Inc.
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