Dallas, Texas 08/20/2014 (FINANCIALSTRENDS) – Versar Inc. (NYSEMKT:VSR), is Springfield-based specialist project management company which provides solutions for commercial as well as government departments.
The company is making news for having recently won the Joint Venture award, for fence to fence environmental services from US Army Corps Engineers of Albuquerque District.
It has been providing secure and tailored engineering solutions which allow company’s to look at increasing their staff or redeem them, besides offering professional services, in the management of harmful chemicals as well.
According to a press release, the company noted that its recent tie-up with Geo-Marine/Baer Engineering and Environmental Consulting will work on this new project. The Air Force bases in New Mexico, at Cannon And Holloman will be the sites where Versar Inc. (NYSEMKT:VSR) will commence work.
Award of the Project
The award of the environmental sustenance focus is a single-award where for a maximum period of 5-years. The performance will be the criteria where one year will be considered as the base period along with four option years.
Currently, the funds tallying first base year’s requirements of $824,000 have since been released. The roughly $98.3 million award has been a boost to the company in many ways as well. The price increase has resulted in the share prices surging.
Versar Inc. (NYSEMKT:VSR) will commence work on the repair of the dover air force base in Delaware and will include designing, bidding and building as well as completing the assigned order.
The increased activity of the stock on the share markets has resulted in many analysts covering the company. The Street rating places the stock of this player on Hold.
The award of the job is under the S / R&M category acquisitions. The company noted that the order contract of IDIQ which is part of the Air Force Civil Engineer Center. In control of the project will be joint venture partner Johnson Controls (NYSE:JCI).