Free press releases distribution network?

More news: Government/B2G
Agency / Source: VSE Corporation

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!



VSE Corporation Signs To Acquire Wheeler Bros., Inc. - Acquisition builds on strategy to leverage supply chain management (NASDAQ: VSEC)
VSE Corporation Signs To Acquire Wheeler Bros., Inc.

 

PRZOOM - /newswire/ - Alexandria, VA, United States, 2011/05/03 - Acquisition builds on strategy to leverage supply chain management (NASDAQ: VSEC). NASDAQ: VSEC

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Government/B2G Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

VSE Corporation announced today that it has signed a definitive agreement to acquire Wheeler Bros., Inc. (WBI), a supply chain management company headquartered in Somerset, PA. WBI supplies vehicle parts to the U.S. Postal Service (USPS) and the Department of Defense. The purchase price is $180 million in cash, with the potential additional payments of up to $40 million, if certain financial targets are met during the first four years after completion of the acquisition. For the year ended September 30, 2010, WBI recorded revenues of approximately $158 million and pretax income of approximately $31 million. WBI is a privately held company with about 185 employees. Completion of the acquisition, which is expected to occur in late May or early June, is subject to customary closing conditions, including compliance with the Hart‑Scott-Rodino Act and completion of bank acquisition financing.

VSE CEO and President, Maurice (“Mo”) Gauthier, commented,“Over the past 50 years, WBI has developed a world class supply chain company with excellent capabilities in sourcing, reverse engineering, warehousing, distributing and tracking vehicle parts. The WBI supply chain solution is based upon proven, mature processes and systems. We see significant opportunities for leveraging WBI’s supply chain capabilities with VSE’s 52-year history of supporting the Department of Defense in extending the service lives of legacy ships, vehicles, aircraft and their systems.”

WBI started as a parts supplier to commercial trucking companies and then entered the Department of Defense market. Following that, WBI started selling into the USPS market, which has the largest truck fleet in the world. WBI has received multiple service awards from the U.S. Postal Service. In 2009, the Postal Supplier Council awarded WBI its fifth USPS Quality Supplier Award. In addition to a full complement of supply chain expertise, WBI also has considerable experience in reverse engineering and manufacturing parts that are no longer supported by the original manufacturers. David Wheeler, WBI’s CEO and President, said,“Our family and employees could not be more pleased with the match we found in VSE. We have very similar cultures and very complementary services. All of us at WBI look forward to VSE helping us get to the next level. We built a very successful company, but with VSE, there is no limit to the possibilities.”

The acquisition of WBI (teamwbi.com) will add supply chain management to the work VSE has historically performed to extend the life of military ships, vehicles, aircraft and their installed systems. Mr. Gauthier further commented: “We believe that the supply chain capabilities we gain through the acquisition of WBI will enable vertical market expansion in our core business of sustaining legacy platforms and systems. Like our other subsidiaries, WBI will also expand our business base into the civil sector of the federal government. In both government and commercial fleets, operating budgets are making near term fleet replacements unlikely, thereby increasing the demand for service life extension of existing assets.”

About VSE
VSE marked its 50th year as a government contractor in 2009. VSE is a diversified Federal Services company of choice for solving issues of global significance with integrity, agility, and value. VSE (vsecorp.com) is dedicated to making our clients successful by delivering talented people and innovative solutions for consulting and program management, logistics, equipment and vehicle/vessel refurbishment, engineering, information technology, energy consulting, and construction program management. For additional information on VSE services and products, please see the company’s website or contact Randy Hollstein, VSE Corporate Vice President of Sales and Marketing, at (703) 329-3206.

VSE encourages investors and others to review the detailed reporting and disclosures contained in VSE’s public filings with the U.S. Securities and Exchange Commission for further information and analysis of VSE’s financial condition and results of operations. The public filings include additional discussion about the status of specific customer programs and contract awards, risks, revenue sources and funding, dependence on material customers, and management’s discussion of short and long term business challenges and opportunities.

Safe Harbor
This news release contains statements that to the extent they are not recitations of historical fact, constitute “forward looking statements” under federal securities laws. All such statements are intended to be subject to the safe harbor protection provided by applicable securities laws. For discussions identifying some important factors that could cause actual VSE results to differ materially from those anticipated in the forward looking statements in this news release, see VSE’s public filings with the Securities and Exchange Commission, including VSE’s annual report on Form 10-K for the year ended December 31, 2010 and subsequent reports filed with the Securities and Exchange Commission.

Investor Relations: Christine Peters (703) 329-3263

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Government/B2G Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: VSE Corporation

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Government/B2G articles,
CATCH Visitors via Your Competitors Announcements!


VSE Corporation Signs To Acquire Wheeler Bros., Inc.

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
VSE Corporation |
Contact: Sylvia Gethicker - VSECorp.com 
703-329-4610
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any VSE Corporation securities in any jurisdiction including any other companies listed or named in this release.

Government/B2G via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!




Read Latest Press Releases From VSE Corporation / Company Profile


Read Government/B2G Most Recent Related Press Releases:

DCNS Present At Exponaval 2016 from 29 November to 2 December, Chile
Resolver Named to Deloitte’s Technology Fast 50™ and Fast 500™ List for 2016
Social Security Announces 0.3 Percent Benefit Increase for 2017
Social Security Publishes Final Rule to Revise Medical Criteria for Evaluating Mental Disorders
DCNS Floats A New FREMM Frigate
DCNS Delivers the Second Mistral-class Helicopter Carrier to the Egyptian Navy, the LHD Anwar El Sadat
Resolver to Showcase Newest Command Center Applications Command Dispatch and Officer Mobile At The 62nd ASIS Annual Seminar and Exhibits
Social Security Board of Trustees - Long-Range Projection Unchanged for Trust Fund Reserve Depletion
DCNS Proud to Partner on Floating Maine’s Aqua Ventus Offshore Wind Project
Social Security Combats Homelessness and Helps Veterans Access Benefits

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
Find business coaching, life coaching, executive coaching and corporate coaching, best selling coaching books, ...



PREMIUM Members


Visit  La Bella Bakery Artisan Bakery Arizona

Visit  BizJobs.com

Visit  Triggr & Bloom







 
  ©2016 PRZOOM — Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today