Versar, Inc. (Amex: VSR) today announced that the U.S. Air Force Center for Engineering and the Environment (AFCEE) awarded Versar a new task order for $450 thousand to provide Construction Management and Quality Assurance personnel for operations in Kuwait. This award to support operations in Kuwait expands Versar's presence into a third Middle East country.
A second task order was awarded for $320 thousand for Geotechnical Support for the Enhanced Grouting Program for the repair of Mosul Dam, Iraq. The Mosul Dam on the Tigris river, built in 1983 by Saddam Hussein, holds back 12 billion cubic meters of water and threatens 2 million people in the town of Mosul should it fail. AFCEE has contracted with Versar to provide one of the world's leading Geotechnical Experts to facilitate repair.
The two new task orders, managed by Versar's international operations, VIAP, demonstrates how VIAP and Versar excel with continued growth in construction management and engineering projects located within harsh, remote and austere environments.
Dr. Ted Prociv, President and CEO of Versar said, "The continued expansion of Versar's international activities both in technical scope and geographic penetration is a result of our successful efforts to diversify our international business. This diversity lays the foundation of our continued future growth and increased profitability. VIAP leadership and staff are excited to continue to be a critical part of the development of the Middle East."
VERSAR, INC., headquartered in Springfield, VA, is a publicly held international professional services firm supporting government and industry in national defense/homeland defense programs, environmental health and safety and infrastructure revitalization. VERSAR operates a number of web sites, including the corporate Web sites, http://www.versar.com, http://www.homelanddefense.com, and http://www.geomet.com; and a B2B portal for homeland defense products and services, http://www.nbcprotect.com and http://www.dtaps.com.
This press 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 year ended June 29, 2007. The forward-looking statements are made as of the date hereof and Versar does not undertake to update its forward-looking statements.