21 Oct Rocky Brands Lands New Military Contract
Rocky Brands Inc. (NASDAQ:RCKY) received an order to produce Hot Weather combat boots for the U.S. Military. The contract is for one year and includes four additional one-year options.
Under the terms of the agreement, the maximum amount of boots shipped per year cannot exceed approximately $20 million, with an expected annual amount of approximately $16 million. The company expects to begin fulfilling the order in the first half of 2017.
Chairman of the Board Mike Brooks said, “We are extremely pleased to receive this additional contract from the U.S. Military, as increasing sales in our military segment is a key component of our diversified growth strategy. We recently invested in expanding our Puerto Rico manufacturing facility in order to better capitalize on the growing demand for military footwear.”
The company is currently in the process of fulfilling the order it received to produce Temperate Weather combat boots that was announced in February 2016 and an existing contract to produce Hot Weather boots that was announced in February 2013.
Rocky Brands Inc. is a designer, manufacturer and marketer of footwear and apparel marketed under a portfolio of brand names including Rocky, Georgia Boot, Durango, Lehigh, Creative Recreation and the licensed brand Michelin.