McRae Industries, Inc. Announces New Contracts With the U.S. Government
MOUNT GILEAD, N.C., Aug. 2, 2012 /PRNewswire/ -- McRae Industries, Inc. (the Company), (MRINA and MRINB on Pink Sheets) reported that it has been awarded two new contracts to produce military combat boots for the U.S. Government (the Government).
On July 27, 2012, the Company was awarded a Government contract to supply a Temperate Weather Army Combat Boot. This contract provides for a base year and four one-year option periods, with a minimum annual quantity of 22,602 pair and a maximum annual quantity of 121,962 pair for each year. If the maximum quantities are invoked for each year of the five year contract, the total value of the contract would be approximately $53,767,000.
On July 30, 2012, the Company was awarded a Government contract to supply a Hot Weather Army Combat Boot. This contract provides for a base year and four one-year option periods, with a minimum annual quantity of 40,178 pair and a maximum annual quantity of 200,890 pair. If the maximum quantities are invoked for each year of the five year contract, the total value of the contract would be approximately $71,732,000.
This press release includes certain forward-looking statements as such terms are defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Important factors that could cause actual results or events to differ materially from those projected, estimated, assumed, or anticipated in such forward-looking statements include: the effect of competitive products and pricing, risks unique to selling goods to the Government (including variation in the Government's requirements for our products and the Government's ability to terminate its contracts with vendors), loss of key customers, acquisitions, supply interruptions, additional financing requirements, loss of key management personnel, our ability to successfully develop new products and services, and the effect of general economic conditions in our market.
SOURCE McRae Industries, Inc.
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