Business Services Industry
Mile Marker International, Inc. Announces Another Military Order
Business Wire, Nov 11, 2004
POMPANO BEACH, Fla. -- Mile Marker International, Inc. (OTCBB:MMRK), a specialty vehicle parts supplier, announced the receipt of another purchase order from the U.S. military for $2,287,800 of its unique hydraulic winch/bumper assemblies.
Mile Marker International Inc. today announced the receipt of the fourth order on the Company's multi-year military contract issued July 10, 2003 for the delivery of 900 Mile Marker's unique hydraulic winch /bumper assemblies to the U.S. Army's Tank Automotive and Armaments Command with a dollar value of $2,287,800. This latest order follows three orders received to date for 3,683 Mile Marker unique hydraulic winch/bumper assemblies under this contract.
Richard Aho, President and CEO of Mile Marker International, Inc., said: "I expect this order to be fulfilled before the end of 2004 and be additive to our dramatically growing commercial winch sales. After delivering this order, we estimate that we will have delivered $11,649,986 out of a maximum potential $27,453,600 under this 2003 military contract. In addition, we have received three more military contracts in 2004 for a maximum possible $11,886,228 in orders and have an outstanding bid for another major contract. As we have previously stated, the timing of our actual military orders under these contracts is heavily dependant upon the U.S. military's budgets and ordering priorities, which are intermittent and unpredictable."
Mile Marker International, Inc., through its wholly-owned subsidiary, Mile Marker, Inc., is a manufacturer and distributor of specialized vehicle parts primarily for the four-wheel drive recreational, utility and military vehicle markets. Mile Marker's unique patented line of hydraulic winches uses a vehicle's power steering pump as its source of energy.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other risks factors and uncertainties detailed in the Company's filings with the U.S. Securities and Exchange Commission.
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