Message #27 From:
NewsBot Date: December 21, 2005 03:00:00 AM
SPSC News CEECO on Track to Complete $1.3 Million Effort to Help Restore Gulf Coast Waterway Navigation System; Emergency Effort Aimed at Repairing Damage from Hurricane Katrina
FALLS CHURCH, Va.--(BUSINESS WIRE)--Dec. 21, 2005--Spectrum Sciences & Software Holdings Corp. (OTCBB:SPSC) announced today that its wholly owned subsidiary, Coast Engine and Equipment Company (CEECO), has been helping the U.S. Coast Guard rebuild portions of the waterway navigation system in the Mississippi River Delta damaged by Hurricane Katrina. This work, which has a total contract value of approximately $1.3 million, is expected to be completed in January 2006.
CEECO has been building the mechanical structures for twenty-five ATON (aid to navigation) devices that house electronic equipment used to mark navigable channels and hazards. Without ATON devices, cargo, naval, and recreational vessels cannot safely move through the waters. CEECO's work has been part of the emergency effort to restore the ATON system to pre-hurricane conditions.
CEECO has been performing most of the fabrication work at its facility in Port Canaveral, Florida.
Darryl K. Horne, Spectrum Holdings' President and CEO, said, "Rebuilding the Gulf Coast, including its navigation systems, is a national priority. CEECO's solid record working with both the U.S. Navy and Coast Guard made it well-qualified to take on this task. This is just one example of the wealth of technical and scientific expertise in the Spectrum Holdings family of companies. Another of our subsidiaries, Horne Engineering, is also contributing to the rebuilding effort by providing procurement expertise."
About Spectrum Sciences & Software Holdings Corp.
Spectrum Sciences & Software Holdings Corp. is a technology and technical engineering solutions company focused on three primary target markets--national security, energy & environment, and transportation--with an emphasis on homeland security. The company's business offerings encompass management services, procurement, manufacturing, science and engineering, and information technology.
The company currently has more than 350 employees within its family of subsidiaries, which include Horne Engineering Services - http://www.horne.com/ -, Spectrum Sciences & Software, Inc. - http://www.specsci.com -, M&M Engineering - http://www.mmeng.net -, and Coast Engine and Equipment Company (CEECO).
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, risks set forth in documents filed by the company from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by, or on behalf of, the Company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
