FAIRFAX, Va., Oct. 18, 2011 /PRNewswire/ -- Innolog Holdings Corp. (OTCBB: INHC) today announced that its wholly owned subsidiary, Innovative Logistics Techniques, Inc. (INNOLOG) received a sub contract award to SNVC Corp., to provide support to The Army Contracting Command-National Capital Region (ACC-NCR) and Army Computer Hardware, Enterprise Software and Solutions (CHESS).
The contract award is to be part of the SNVC team as a prime contractor to support the Army's five-year $400m enterprise-wide IT services and solutions Indefinite Delivery/Indefinite Quantity (IDIQ) contract. INNOLOG will support SNVC's efforts to provide a mechanism to obtain Information Technology (IT) services necessary for the Army to satisfy its support of the enterprise infrastructure and infostructure goals at a reasonable price, consistent with Department of Defense (DoD) and Department of Army policies on standardization and interoperability.
Richard Stewart, INNOLOG's President, stated, "We are pleased to be part of the SNVC team and look forward to supporting them on this critical mission and supporting the US Army in delivering a timely and reliable service. We continue to increase and expand our opportunities to support the US Army and look forward to working with SNVC on this and future opportunities."
INNOLOG projects annual revenues of $800,000 up to a potential maximum of $2.0m.
Innolog Holdings Corporation was formed in March 2009 as a holding company for the purpose of acquiring businesses that provide services primarily to federal government entities. Our primary subsidiary, Innovative Logistics Techniques, Inc. (www.innolog.com), was founded in 1989 to help the Department of Defense address complex logistics business problems. The company is a federal government contractor that brings world-class solutions and leading edge process oriented thinking to the U.S. military, civilian agencies and state and local governments to provide solutions to complex logistics problems.
Additional information is available at www.innologholdings.com.
Statements in this press release that are not statements of historical or current fact, such as the expectation of future revenue growth and profitability, constitute "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause Innolog's actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Factors that could cause Innolog's results to be materially different from the forward-looking statements include whether Innolog will be able to find financing when and as it needs it and whether Innolog's revenues will eventually exceed its expenses. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in Innolog's reports filed with the Securities and Exchange Commission, which are available for review at http://www.sec.gov/.
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