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Versar Receives Additional Funding, New Contract for Iraq Reconstruction Projects

September 8, 2005 - Versar Inc. today said it has been awarded additional funding to an existing task order and a new task order from the Air Force Center of Environmental Excellence (AFCEE) to continue providing quality assurance and construction oversight at reconstruction projects throughout Iraq.

The amount of the additional work awarded is approximately $3.4 million, with the total Versar-Iraq program now valued at $7.8 million, the company said.

Versar expects a continued presence in Iraq supporting the rebuilding effort for the next one to two years.

Versar's work in Iraq includes an initiative to develop skilled-labor trade schools for the Iraqi workforce and an initiative to compile first-ever comprehensive construction standards for Iraq.

"Versar's activities in Iraq have greatly broadened the company's project management capability, demonstrating Versar is capable of effectively managing large international projects," said Dr. Ted Prociv, president and CEO.

"Versar's work in Iraq will continue to be the company's highest priority project until the entire workforce returns home safely after a successful project execution."

 

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