The M.A.X. Armor, Mark 1, is a prototype application of revolutionary heuristic techniques developed by Doctor Karl Swensen on the behalf of Krotze Industries. The ultimate idea was to fashion it into the ultimate tool, allowing ordinary humans to work in any environment without concern for their own safety. Unfortunately, Krotze Industries didn't see things that way.
Swensen eventually realized this, and refused to give his second prototype to Fritz Krotze, owner of Krotze Industries. This got him killed, though his daughter was able to make off with his notes about the Mark 2 improvements, the Mark 2 suit itself, and the laboratory it was built in (it was mobile, being placed in three Mack trucks).
Ultimately, however, Krotze Industries managed to sell the technology they did have to various world governments, including the Soviets, who eventually used it in their conquest of Afghanistan. However, it is critical to note that the Mark 1 suit is limited in capability, and it is possible to take it apart with conventional gunfire, if it is concentrated long enough.