I watched this one all morning with no clue as to why the sudden increase in the pps. I just looked for the news and they have just been awarded a contract with the United States Army.
The 52 week low was .15 and the high @ 2.99. This is a Nasdaq listed stock and should continue a nice northward movement.
I sit on my hands and waited too long and bought too high but I'm in @ .28
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The Details:
Modtech Holdings, Inc. Awarded Contract to Provide Urban Terrain Training Facilities for US Army
Thursday May 29, 6:30 am ET
PERRIS, Calif.--(BUSINESS WIRE)--Modtech Holdings, Inc. (Nasdaq:MODT - News) announced a contract award to construct 120 modular training buildings for search training under the United States Army’s Military Operations on Urban Terrain (MOUT) program. Each building is comprised of either 2 or 4 individual modules. The building designs mimic modern urban warfare areas, providing real life training conditions that cannot be accomplished in simulators. To increase realism, some buildings will feature courtyards, faux kitchens, bathrooms and hiding caches.
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The buildings are constructed in Modtech’s Perris, California production facility and then transported to various locations when 95% complete. Minimal site work is necessary, facilitating installation in remote desert areas of secure military bases.
According to Rick Bartolotti, Modtech Senior Vice President Operations and Group President, “This type of training facility is cost efficient as well as effective for training. Construction of these buildings is very rapid at our modern production facility staffed by a skilled labor force, advancing our troops’ access to necessary training facilities.”
The Modtech factory construction process allows the company to provide military installations with buildings up to 60% faster than conventional on-site construction and with improved security as fewer personnel are required on site compared to site built construction. The buildings are of comparable or superior quality compared to those constructed by conventional methods.
About Modtech Holdings, Inc.
Modtech® is a leading national designer and manufacturer of modular buildings, both permanent and relocatable. In the school industry, the company has advanced typical modular building technology to greater dimensions of flexibility and architectural integrity. Modtech® has substantial product and geographic diversification throughout the southwestern states and Florida. Modtech’s commercial and industrial buildings are sold to a diverse end-user market and may be leased through national, regional, and local dealers. The company also designs and manufactures modular buildings to customer specifications for a wide variety of uses.
For more information please contact Modtech Holdings, Inc. at 888-929-0998 or
Factory Direct Modular Buildings & Portable Buildings from Modtech.
Forward-looking Statements:
Some statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Refer to the company’s filings with the U.S. Securities and Exchange Commission for further discussion of such factors. The forward-looking statements are made as of the date of this press release and the company assumes no obligation to update such statements.
Contact:
Modtech Holdings, Inc.
Dennis Shogren, Chief Executive Officer, 951-943-8800
Ken Cragun, Chief Financial Officer, 951-943-8889
or
Silverman Heller Associates
Phil Bourdillon/Gene Heller, 310-208-2550
MODT.. Modtech Holdings.. Penny Stock
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