Versar Inc., Joint Venture Awarded Construction Phase Support Services Contract With Maximum Capacity Of $90 Million
SPRINGFIELD, Va., May 16, 2013 /PRNewswire/ — Versar, Inc. (NYSE MKT: VSR) announced today that its joint venture with Parsons was awarded a new prime contract from the U.S. Army Corps of Engineers (USACE), Middle East District (MED) to provide Construction Phase Support Services (CPSS) throughout 18 countries within the Central Command Area of Responsibility. The Indefinite Delivery Indefinite Quantity (IDIQ) contract is a single award with a maximum five-year period of performance consisting of a base year and four option years. The maximum contract capacity is $90 million. According to the terms of the contract, the joint venture will provide construction support services in the CENTCOM Area of Responsibility to include locations such as Afghanistan, Kazakhstan, Pakistan, Saudi Arabia, Iraq, Qatar, and 12 additional countries.
Tony Otten, CEO of Versar said, “This award is a validation of the team we have formed with our joint venture partner Parsons. We welcome this additional opportunity to work with USACE and are confident that our team’s capabilities are well matched to the requirements of the contract and to the demands of the geographic locations in which we will be working.”
VERSAR, INC., headquartered in Springfield, VA, 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 telecommunication and technology integration market areas.
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 29, 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 firstname.lastname@example.org email@example.com
SOURCE Versar, Inc.