Business
Optex Systems Holdings, Inc. Announces a Shared $35 Million Award from Defense Logistics Agency
RICHARDSON, TX / ACCESSWIRE / December 3, 2019 / Optex Systems Holdings, Inc. (OTCQB:OPXS), a leading manufacturer of precision optical sighting systems for
About this update from Optex Systems Holdings, Inc.
[{"type":"text","content":"RICHARDSON, TX / ACCESSWIRE / December 3, 2019 / Optex Systems Holdings, Inc. (OTCQB:OPXS), a leading manufacturer of precision optical sighting systems for domestic and worldwide military and commercial applications, announces a shared award for a maximum of $35 Million for Improved Commander Weapon System (ICWS) periscopes under a three year Indefinite Delivery - Indefinite Quantity (IDIQ) contract with two additional optional years.Optex and another recipient have been awarded this shared award from Defense Logistics Agency, Land and Maritime. Each company's portion of the award will depend on price and performance over the ordering periods. Both companies have produced the product in the past and both companies are currently in production under different contracts.Danny Schoening, CEO of Optex commented, \"While the exact number of units to be ordered is yet to be determined, we know this item is critical to the continued production and support of the M1A2 Abrams Tank. Given this demand and this approved IDIQ contract, Optex is ready to react to the Government's needs for this mission critical periscope.\"With this order, Optex's current backlog stands at over $23.6 Million.ABOUT OPTEX SYSTEMSOptex, which was founded in 1987, is a Richardson, Texas based ISO 9001:2015 certified concern, which manufactures optical sighting systems and assemblies, primarily for Department of Defense (DOD) applications. Its products are installed on various types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Armored Security Vehicles, and have been selected for installation on the Stryker family of vehicles. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights, and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors. For additional information, please visit the Company's website at www.optexsys.com.Safe Harbor StatementThis press release contains certain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including those relating to the products and services described herein. You can identify these statements by the use of the words \"may,\" \"will,\" \"could,\" \"should,\" \"would,\" \"plans,\" \"expects,\" \"antic...