Versar, Inc. (NYSE MKT: VSR) announced today that it has been awarded two new task orders under its existing Personal Services Contract in Afghanistan. The year-long task orders were awarded by the U.S. Army Corps of Engineers (USACE), Middle East District (MED). The Personal Services Contract primarily provides Afghan engineering and technical staff to work with USACE personnel in overseeing construction projects throughout Afghanistan.
The combined value of the new task orders is $18.3 million, representing continued significant growth in Versar's four-year long contract with USACE, which expires in September 2016. To date, Versar has received $80.2 million of a maximum contract capacity of $170 million.
Tony Otten, CEO of Versar, said, "Versar has been proud to participate in the United States Department of Defense's reconstruction and capacity development efforts in Afghanistan since 2006. The continuation and growth of this contract is one of the key mechanisms USACE is using to provide long term and cost effective engineering oversight for active construction projects."
Source: Versar, Inc.
Date: Oct 7, 2014