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01.10.2013 08:15
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Versar, Inc. Awarded Two New Task Orders Valued At $30.5 Million From The US Army Corps Of Engineers For Its Contract In Afghanistan
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PR Newswire
SPRINGFIELD, Va., Oct. 1, 2013
SPRINGFIELD, Va., Oct. 1, 2013 /PRNewswire/ -- Versar, Inc. (NYSE MKT: VSR) announced today that it has been awarded two new task orders under its existing Personal Services Contract in Afghanistan. The year-long task orders were awarded by the U.S. Army Corps of Engineers (USACE), Middle East District (MED) and Versar will support the Transatlantic Afghanistan (TAA) District office and the MED Area Office with over 500 Afghan engineers and professionals.
Task orders three and four are valued at $30.5 million cumulatively and represent significant contract growth in Versar's four-year long contract with USACE. This Indefinite Delivery Indefinite Quantity (IDIQ) contract has a maximum contract capacity of $170 million and Versar has received $63.6 million through task order four.
Tony Otten, CEO of Versar, said, "As the United States Government decreases its footprint in Afghanistan, they have begun to transition more services to Afghan professionals. The continuation and growth of Versar's contract is one of the mechanisms USACE is using to provide long term and cost effective engineering oversight at active construction projects."
VERSAR, INC., headquartered in Springfield, Virginia, is a publicly traded global project management company providing sustainable value oriented solutions to government and commercial clients in the construction management, environmental services, munitions response, and professional services market areas.
VERSAR operates a number of web sites, including the corporate web sites, www.versar.com, www.geomet.com, www.viap.com, www.dtaps.com, www.adventenv.com, www.charronconsulting.com, www.ppsgb.com, and www.geo-marine.com
This news 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 fiscal year ended June 28, 2012, 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.
| Contact: | David Gray | John Nesbett or Jennifer Belodeau |
| | Director of Financial Reporting | Institutional Marketing Services (IMS) |
| | Versar, Inc. | (203) 972-9200 |
| | (703) 642-6888 | |
| | |
SOURCE Versar, Inc.
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