VANCOUVER, B.C. – Mission Ready Services Inc. (TSX-V: MRS) – Mission Ready Services Inc. (“Mission Ready” or “MRSI”) is pleased to announce that 10-20 Services Inc. (“10-20” or the “Company”), a wholly-owned subsidiary of MRSI, has received a national contract (the “Contract” or “Agreement”) with the Army & Air Force Exchange Service (“AAFES”) for Tactical Gear Restoration & Cleaning Services. The Agreement begins with Joint-Base Lewis McChord (“JBLM”) and includes provisions for 10-20 to add stores on other Department of Defense installations during the contract term, by mutual consent with AAFES.
10-20 launched its first retail location in the Post Exchange (“PX”) at JBLM in early 2013 and subsequently celebrated the launch of its second PX installation in September of 2014 at Fort Bragg. 10-20’s retail locations serve the individual soldier market and provide comprehensive, economical and convenient cleaning, decontamination and repair solutions including complimentary on-base pickup and delivery and guaranteed acceptance when returning 10-20-serviced gear to the Central Issue Facility (“CIF”). 10-20’s Western Zone Manager, retired Command Sergeant Major Vic Martinez, stated, “10-20 has found a service niche that’s a perfect fit with the Exchange.” The Company also provides services to clean and disinfect barracks furniture. Soon the Company will begin servicing firefighter gear and offering application of a new type of highly stain resistant, after-market treatment for soldiers’ boots.
“10-20 incorporates a ‘top down’ and ‘bottom up’ growth strategy by simultaneously developing relationships at the top levels of the Department of Defense procurement channels, at the installations and with the individual soldiers we ultimately serve” states Clay Williamson, President of 10-20 Services Inc. “We are very pleased with the timing of this contract as we move into our next growth phase which includes the synergistic addition of on-base retail stores within proximity of 10-20 decontamination and repair facilities. With over 90 CIF’s worldwide, we now have a streamlined process for entering into these locations where appropriate for our operations.”
The Contract is for an initial two-year period, beginning April 1, 2015 and includes extension provisions for up to three (3) additional years.
About Army & Air Force Exchange Service
Headquartered in Dallas, Texas, the Army & Air Force Exchange Service is an agency of the United States Department of Defense and is responsible for the administration of on-base retail services.
For more than 119 years, AAFES’ mission has been to support the men and women of the armed forces during military operations, humanitarian missions and other endeavors around the world.
The Exchange Service is designed to provide everything a soldier might need or want such as uniforms, tactical gear, recreational sports equipment, vitamin supplements, and electronics. AAFES serves 12.8 million customers in 50 states and more than 30 countries. In fiscal 2013 the Post Exchange (On-base retail outlet) had revenue of $8.3 billion and a profit of $332 million. About a third of that was reinvested in operations, and the rest—$208 million—was plowed into the Pentagon’s morale, welfare, and recreation programs.
About 10-20 Services Inc.
10-20 was formed to provide services and product sales to the U.S. Federal Government and its contractors. 10-20 operates military cleaning and repair facilities in Washington state, adjacent to Joint Base Lewis-McCord (JBLM); North Carolina, adjacent to Fort Bragg (the world’s largest military installation); and California near Marine Corps Logistics Base Barstow. Additionally, the Company operates retail service centers on-base at JBLM and Fort Bragg to serve the individual soldier market and gain exposure for 10-20 Services at the base level.
About Mission Ready Services Inc.
MRSI was created to meet a critical need of one of the world’s largest customers, the US Government and in particular the Departments of Defence, Homeland Security and Justice and various other agencies such as law enforcement, first responders and the many others worldwide that help to safeguard our health and security.
MRSI’s mission is to save lives and enhance the performance of military personnel, first responders, and those who protect us by working to ensure they are equipped with the best possible personal protective equipment.
For further information, visit the Company’s website at MissionReady.ca or contact:
Terry Nixon – Director, Corporate Communications
Mission Ready Services Inc.
(signed “Rod Reum”)
President & CEO
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “forecast”, “project”, “budget”, “schedule”, “may”, “will”, “could”, “might”, “should” or variations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made by Mission Ready Services Inc. as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Mission Ready Services Inc. to be materially different from those expressed or implied by such forward-looking information.
Forward-looking statements are based on assumptions management believes to be reasonable. Although Mission Ready Services Inc. has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Mission Ready Services Inc. does not undertake to update any forward-looking information that is included herein, except in accordance with applicable securities laws.
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