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