Defense Contracts don't Always Add Up
January 16, 2012
In January 2008, Virginia Beach-based ADS Tactical Inc. announced it had won defense contracts worth up to $4 billion to provide firefighting and emergency equipment to military installations across the country.
"This contract will double the size of our company in the next two years and allow us to greatly expand our employee base in the Virginia Beach area," Luke Hillier, the company's CEO, said at the time.
So far, however, the reality has been much more modest.
As of Dec. 16, the contracts had generated $177 million in business for ADS.