Versar, Inc. (NYSE Amex: VSR) announced it has been awarded two contract modifications from the United States Army Corps of Engineers for ongoing work in Iraq and Afghanistan. The first contract modification extended Versar’s Personal Services and Support contract in Iraq until April 2011. The extension valued at $2.7 million adds three additional months of service to Versar’s contract that has been in place since April 2006.
The second contract modification was granted to Versar’s wholly owned subsidiary, ADVENT Environmental. The modification added to the period performance and contract value for de-mining and Battle Area Clearance that supports the expansion of Camp Hero located at Kandahar Air Field in Afghanistan. The $1.87 million modification increased the overall contract value to approximately $9 million and involves the removal of Soviet era military equipment and construction debris within an area that is scheduled to become a Regional Military Training Center for the Afghan National Army.
Tony Otten, CEO of Versar, Inc., said “The United States Army Corps of Engineers is a trusted and highly valued client for Versar. Our continued presence in Iraq, after the major re-construction effort has finished, is a testament to our flexible, professional, and customer-focused project management team.” Mr Otten continues, “The important de-mining work by ADVENT in Afghanistan is what we do best in providing secure and tailored solutions in harsh environments in support of Department of Defense mission critical projects.”
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 25, 2010, as updated from time to time in the Company’s periodic filings. 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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