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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Innolog Holdings Corporation (CE) | USOTC:INHC | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00001 | 0.00 | 01:00:00 |
FAIRFAX, Va., Feb. 14, 2012 /PRNewswire/ -- Innolog Holdings Corp. (OTCBB: INHC) today announced that its wholly owned subsidiary, Innovative Logistics Techniques, Inc. (INNOLOG) received a sub contract award to ITC to provide support to The U.S. Air Force Aeronautical Systems Center (the largest center of the Air Force Materiel Command), headquartered in Dayton, Ohio.
The contract award is to be part of the ITC team supporting the Air Force's $950m ACCESS program contract. ITC and its team will provide services ranging from management and professional support services to engineering and technical services.
Richard Stewart, INNOLOG's President, stated, "We are pleased to be part of the ITC team and look forward to supporting them on this critical mission and supporting the Air Force Materiels Command Center in Dayton. We will continue to look for ways to expand our presence beyond this contract to the Air Force and look forward to a partnership with ITC on this project and others in the future."
William P. Danielczyk, Executive Chairman of Innolog Holdings commented, "We are proud of Rich and his team in building a partnership with ITC, a very fine company, which we hope will expand beyond this first contract. Over the past two years, we have put in place a long-term growth plan for INNOLOG, which we believe will realize and maximize value to our shareholders. This is the second consecutive contract award during the past six months with new partners."
INNOLOG projects annual revenues of $1.5m to $3.0m to be generated from the ACCESS contract.
About Us
Innolog Holdings Corporation was formed in March 2009 as a holding company for the purpose of acquiring businesses that provide services primarily to federal government entities. Our primary subsidiary, Innovative Logistics Techniques, Inc. (www.innolog.com), was founded in 1989 to help the Department of Defense address complex logistics business problems. The company is a federal government contractor that brings world-class solutions and leading edge process oriented thinking to the U.S. military, civilian agencies and state and local governments to provide solutions to complex logistics problems.
Additional information is available at www.innologholdings.com.
Statements in this press release that are not statements of historical or current fact, such as the expectation of future revenue growth and profitability, constitute "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause Innolog's actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Factors that could cause Innolog's results to be materially different from the forward-looking statements include whether Innolog will be able to find financing when and as it needs it and whether Innolog's revenues will eventually exceed its expenses. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in Innolog's reports filed with the Securities and Exchange Commission, which are available for review at http://www.sec.gov.
Contact:
Investor Relations
Andrew Barwicki
516-662-9461 / andrew@barwicki.com
SOURCE Innolog Holdings Corporation
Copyright 2012 PR Newswire
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