Versar, Inc. Awarded $17.1 Million Contract For Electrical Inspections In Iraq
Versar, Inc. (NYSE Amex: VSR) announced today that it has been awarded a new $17.1 million contract from the US Army Corps of Engineers, Middle East District. The contract, known as Task Force SAFE (Safety Actions for Fire and Electricity), is to perform electrical inspections and repairs of facilities used by American personnel throughout Iraq. Under this contract, Versar’s managers, engineers, and electricians will ensure all electric and fire protection systems used by US Government personnel in Iraq are operating safely and in compliance with required Electrical codes. The Task Force SAFE contract period will run until August 2011 with provisions for two option periods of five months each.
Tony Otten, CEO of Versar, Inc., said, “This new award reaffirms the experience Versar has gained in conducting quality assurance and assessment services for the U.S. Government’s reconstruction efforts in Iraq over the past six years. Versar has the ability to perform complex technical inspections and repairs in remote and hazardous environments throughout the world.”
VERSAR, INC., headquartered in Springfield, VA, is a publicly held global project management company providing sustainable solutions to government and commercial clients in construction management, environmental services, munitions response, telecommunications and energy. VERSAR operates a number of web sites, including the corporate Web sites, www.versar.com, www.homelanddefense.com, www.geomet.com; www.viap.com; www.dtaps.com; www.adventenv.com, and www.ppsgb.com.
This press release contains forward-looking information. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be significantly impacted by certain risks and uncertainties described herein and in Versar’s Annual Report on Form 10-K filed with the Securities and Exchange Commission for the year ended June 26, 2009. The forward-looking statements are made as of the date hereof and Versar does not undertake to update its forward-looking statements.
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