Versar, Inc. (NYSE Amex: VSR) announced today that it has been selected as prime contractor for up to a $45.4 million task order with the Air Force Center for Engineering and the Environment (AFCEE) under their WERC09 contract, for conducting performance-based remediation at Tinker Air Force Base, Oklahoma. The initial funded award amount is $18.7 million, with options totaling another $26.7 million over the next nine years.
Versar, and major teaming members CH2MHill and Battelle Memorial Institute, have combined their unique skills, resources, and Tinker AFB experience, to forge a team who can implement effective cleanup remedies. Using various remediation technologies, the Versar team will be performing environmental cleanup at 34 sites across the base, with the overall goal of achieving closure at 13 of these sites, making them eligible for unrestricted future land use.
Tony Otten, CEO of Versar said “With this important project, Versar continues its long-standing tradition of providing quality environmental services to the Air Force. Since 1994, Versar has held eight AFCEE ID/IQ contracts and completed more than 230 individual task orders, spanning installations in Europe, the Middle East, Pacific, and the continental U.S. We look forward to continuing our partnership with the environmental professionals at AFCEE and Tinker Air Force Base to achieve efficient and permanent solutions.”
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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