Showing posts with label Versar Inc.. Show all posts
Showing posts with label Versar Inc.. Show all posts

Thursday, March 18, 2010

Versar, Inc. Acquires ADVENT Environmental, Inc.



Defense News: SPRINGFIELD, Va.--(BUSINESS WIRE)--Versar, Inc. (NYSEAmex: VSR) announced today that it has acquired ADVENT Environmental, Inc. (“Advent”). Advent, headquartered in Charleston, South Carolina, is a Department of Defense, full service environmental contractor with significant capabilities in Military Munitions Response Plans (MMRP) and Unexploded Ordinance (UXO) clean-up.

The Advent acquisition was accomplished with cash, note and an earn-out and is expected to be accretive in the first year. Advent will add over $12 million in annualized gross revenue and provide Versar additional overall contract capacity with the Department of Defense in excess of $100 million and a funded backlog of $10 million. Advent’s clients include the U.S. Army Corps of Engineers (USACE), The Air Force Center of Environmental Excellence (AFCEE) and the U.S. Navy.

Tony Otten, CEO of Versar, said, “The acquisition of Advent Environmental is a great strategic fit for Versar. We are extremely excited about the opportunities this combination offers. Our cultures are similar and Advent’s technical capabilities compliment our own. MMRP and UXO clean-up are a major new Versar initiative which will move ahead faster and become stronger with the joint Advent-Versar resources.”

Advent’s management will stay intact and report to Jeff Moran, Versar’s Compliance and Environmental Group’s Sr. Vice President. Kenna Sellers, Advent’s CEO said, “The combination of two outstanding under - 500 Federal contractors will allow us to combine our resources and deliver outstanding service to our clients.”

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, http://www.geomet.com;http://www.viap.com; http://www.dtaps.com; www.ppsgb.com; www.adventenv.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 26, 2009. The forward-looking statements are made as of the date hereof and Versar does not undertake to update its forward-looking statements.

Contact:

Versar, Inc.
Michael J. Abram
Senior Vice President
703-642-6706
mabram@versar.com
or
Investor Relations:
Barry Kaplan Associates
Andrew J. Kaplan
732-747-0702
smallkap@aol.com
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Wednesday, February 10, 2010

Versar, Inc. Awarded $13 Million Subcontract to Provide Chemical Munitions Destruction Using Explosive Detonation Technology

Defense News ~ SPRINGFIELD, Va.-- February 9, 2010, (BUSINESS WIRE)--Versar, Inc. (NYSE Amex:VSR) announced today the award of a $13 million subcontract from URS Corporation (NYSE: URS - News) through its EG&G Defense Materials subsidiary for Chemical Munitions Destruction using the first-of-a-kind DAVINCH system (Detonation in a Vacuum Assisted Chamber). Versar teamed with Kobe Steel, LTD of Japan, the developer of DAVINCH for this award, which has an initial 13 month period of performance.
Versar will provide project management at the Deseret Chemical Depot, near Tooele, Utah for this contract. This is the first implementation of the DAVINCH proprietary technology in the United States. The DAVINCH technology will be used to destroy munitions that have certain characteristics that make them extremely difficult to process using traditional methods, such as incineration.
Dr. Ted Prociv, President and CEO of Versar, Inc., said, “The DAVINCH technology represents a major step toward the safe and efficient destruction of a wide variety of chemical and conventional munitions across the globe. We look forward to successfully implementing this program, and continuing our strong relationships with Kobe Steel, LTD and our prime contractor, EG&G Defense Materials.”
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, http://www.geomet.com; http://www.viap.com; 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 26, 2009. The forward-looking statements are made as of the date hereof and Versar does not undertake to update its forward-looking statements.
Contact
Versar, Inc.
Michael J. Abram, 703-642-6706
Senior Vice President
or
Investor Relations Contact:
Barry Kaplan Associates
Andrew J. Kaplan, 732-747-0702
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Friday, January 8, 2010

Versar Awarded $7 Million Contract by U.S. Environmental Protection Agency

Defense News ~ January 7, 2010, SPRINGFIELD, Va.--(BUSINESS WIRE)--Versar, Inc. (NYSE Amex: VSR) announced today that the Office of Pollution Prevention and Toxics (OPPT) of the U.S. Environmental Protection Agency (EPA) has awarded Versar a 5-year, $7 million contract for exposure assessments for toxic substances. This contract is one of five major EPA contracts currently managed by Versar's Exposure and Risk Assessment Division, and will continue Versar’s 30 years of support for the EPA’s toxic substances exposure and risk assessment programs.
Under this contract, Versar will conduct exposure and risk assessments for toxic chemicals, develop data analysis models and databases, and refine exposure assessment methodologies in support of OPPT's review of new and existing chemicals.
Dr. Ted Prociv, President and CEO of Versar, said, "Versar continues to be recognized as a leader in risk and exposure assessment of toxic and other chemical substances. These programs are among the EPA’s highest priorities to better characterize chemical exposures and risks to our communities. Versar brings innovative approaches and rigorous scientific analysis forward to support the EPA’s programs that ensure the safety of all our citizens."
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, http://www.geomet.com; http://www.viap.com; http://www.dtaps.com; and www.ppsgb.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 26, 2009. The forward-looking statements are made as of the date hereof and Versar does not undertake to update its forward-looking statements.
Contact:
Versar, Inc.
Michael J. Abram, 703-642-6706
Senior Vice President
or
Investor Relations Contact:
Barry Kaplan Associates
Andrew J. Kaplan, 732-747-0702
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Wednesday, January 6, 2010

Versar, Inc. Acquires Professional Protection Systems, Ltd

SPRINGFIELD, Va.--January 5, 2010, (BUSINESS WIRE)--Versar, Inc. (NYSE Amex: VSR) announced today that it has acquired Professional Protection Systems, Ltd. (PPS). PPS, located in Milton Keynes, United Kingdom, manufactures and sells proprietary personal protective equipment to the nuclear industry, including protective suits, decontamination showers, and emergency shelters. PPS markets its products in over 30 countries and will expand Versar’s International presence in the protective equipment market.
The PPS acquisition will add approximately $5 million in annualized gross revenue to Versar’s base business and provide a strong platform to cross-market Versar’s and PPS’s combined product line in the United States and to International clientele. The acquisition, completed primarily with cash, a note and an earn-out component, is expected to be accretive in the first year.
Dr. Ted Prociv, President and CEO of Versar, said, “The PPS acquisition is a high margin business with numerous synergies and upside that will make a positive impact to our ongoing business in the protective equipment market. Revenue growth via acquisition has been a priority in our strategic planning and will continue to complement our organic growth.”
PPS’s management will remain intact and report to Peter Cooper, Versar’s National Security Group Senior Vice President. Mark Whitcher, PPS’s Managing Director adds, “The opportunity to join forces with Versar was very compelling and will allow us to immediately leverage our joint distribution network and grow the business more rapidly than we could have alone.”
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, http://www.geomet.com; http://www.viap.com; http://www.dtaps.com; and www.ppsgb.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 26, 2009. The forward-looking statements are made as of the date hereof and Versar does not undertake to update its forward-looking statements.

Contact:
Versar, Inc.
Michael J. Abram
Senior Vice President
703-642-6706
mabram@versar.com
or
Investor Relations Contact:
Barry Kaplan Associates
Andrew J. Kaplan
732-747-0702
smallkap@aol.com
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