July 22, 2005
Armor Holdings to Provide 156,000 Ballistic Vests to Replace Cops' Second Chance Models
Armor Holdings has been selected as the exclusive supplier to replace up to 156,000 Second Chance bullet-resistant vests to the law enforcement community as part of a legal settlement reached between Toyobo Company, Ltd. and Toyobo America, Inc., the Japanese manufacturer of the bullet-resistant fiber Zylon, and a certified class of national police organizations, departments, agencies, and officers who purchased certain models of Zylon-containing vests manufactured by Second Chance Body Armor.
This arrangement follows the recent announcement by Second Chance that some of its vest models need to be replaced but the company’s poor financial position prevents it from offering any replacement option.
To quickly provide needed ballistic vests to law enforcement agencies, Armor Holdings has agreed to offer a special one-time, promotional price for its concealable body armor.
The settlement provides a $29 million fund established by Toyobo. Law enforcement officers and agencies involved in the settlement can choose one of two options to benefit from the fund.
The first option is a one-time cash payment. The fund would be divided into equal portions to be distributed to all involved. The second option is an Armor Holdings voucher for the same amount of cash as the cash payment would be, plus an additional $25 credit provided by Armor Holdings.
For more information visit www.zylonvestclassaction.com.