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Hydraulic winch kit order for military vehicles
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Mile Marker International
: 25 August, 2008 (Application Story) |
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Winch order worth over $10 million placed on Mile Marker International for vehicle mounted winch kits |
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Mile Marker International has received another major new contract for the delivery of up to 3,275 of its unique patented Mile Marker hydraulic winch/bumper assemblies over five years with a maximum potential dollar value of $10,509,475. The Company also received the minimum guaranteed order for 131 hydraulic winch/bumper assemblies for $388,153 along with this new contract.
Alvin Hirsch, President and Chief Executive Officer, stated: "During 2008, the Company has received nine orders from the US military totaling approximately $3,200,000 under its four existing contracts, has already delivered approximately $2,000,000 of these orders and expects to deliver the balance during 2008. With this latest military contract, the Company has approximately $53,000,000 of unfilled orders under all of its military contracts. The oldest contract expires on March 31, 2009, and the newest contract expires on August 21, 2013. All contracts are `Indefinite Delivery Indefinite Quantity' contracts based on the needs of the military and the availability of budgeted funds, both of which are intermittent and unpredictable. The Company's hydraulic winch is the only winch authorized for military Humvee vehicles. The Company's patents for these unique winches expire in 2018."
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