Business
Allen-Vanguard receives contract award for specialized training to U.S. Department of Defense
- Multi-year program value estimated at $100 million - Contract value for fiscal 2009 $18 million...
About this update from Verisante Technology, Inc.
[{"type":"text","content":"\n\n\n\n- Multi-year program value estimated at $100 million\n\n\n- Contract value for fiscal 2009 $18 million\n\n\n- Program transitions from proof of concept to 5 year Program of Record\n\n\nOTTAWA, Oct. 16 /CNW Telbec/ - Allen-Vanguard Corporation (TSX: VRS)\n("Allen-Vanguard" or the "Company") of Ottawa, Canada today announced that it\nhas received a contract award to provide specialized training to the\nU.S. Department of Defense (DoD). The contract awarded today is for training\nto be delivered in fiscal 2009 at a value of approximately $18 million under a\nprogram that has been established as a Program of Record (POR) expected to\ncontinue through fiscal 2013. The total value of the program over the full\nfive-year period including fiscal 2009 is estimated at approximately\n$100 million. All amounts are in Canadian dollars unless otherwise stated.\n\n\n"Allen-Vanguard was instrumental in innovating this specialized training\nprogram and has been the incumbent since inception," said David E. Luxton,\nPresident and CEO. "We are very pleased to now see it expand from proof of\nconcept to a Program of Record, and proud to be supporting the efforts of the\nU.S. warfighter."\n\n\nNo further details were released due to the classified nature of the\nprogram\n\n\nAllen Vanguard\n\n\nForward looking statements\n\n\nThis press release may contain forward-looking statements, which reflect\nAllen-Vanguard's current expectations regarding future events, its strategy,\nexpected performance and condition. Forward-looking statements include\nstatements that are predictive in nature, that depend upon or refer to future\nevents or conditions, or that include words such as "expects," "anticipates,"\n"plans," "believes," "estimates" or negative versions thereof and similar\nexpressions. In addition, any statement that may be made concerning future\nperformance, strategies or prospects, and possible future acquisitions or\ndispositions, is also a forward-looking statement. Forward-looking statements\nare based on current expectations and projections about future events and are\ninherently subject to, among other things, risks, uncertainties and\nassumptions about the Company and economic factors. Forward-looking statements\nare not promises or guarantees...