SPRINGFIELD, Va., April 16, 2013 /PRNewswire/ -- Versar, Inc. (NYSE MKT: VSR) announced that the United States Army Corps of Engineers, Los Angeles District has issued Versar a fourth task order to provide funding for option year three of the ongoing Range Maintenance Contract at Fort Irwin/ National Training Center, CA.
This new task order adds $4.3 million to the overall contract, which was awarded to Versar on March 23, 2010 and brings the total funded value to $18.6 million. The base year period of performance ran through March 22, 2011 with the potential for four additional option years and a total contract capacity of $29.5M.
The National Training Center (NTC), located in the Mojave Desert midway between Las Vegas and Los Angeles, is the only instrumented training ground in the world capable of handling brigade-size units. As large as the state of Rhode Island, NTC conducts live "force on force" training exercises that could involve 4,000 - 5,000 soldiers per month. A large number of munitions and explosives are expended each month across the range. Under this contract, Versar is responsible for locating, identifying, marking and disposing of a wide-variety of munitions and explosives so that NTC range operations can continue to be conducted safely and efficiently.
Jeff Wagonhurst, President of Versar, said, "This significant task order award continues Versar's history of providing munitions cleanup and related demilitarization services at Ft. Irwin. We are very pleased to be selected by the Army Corps of Engineers to support the NTC in its vital mission of training America's soldiers."
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.
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.