Science & Technology
Science and Technology
Science and Technology
Tue, February 24, 2009 GVI Security Solutions Receives Two-Year Contract Renewal Estimated to be $15 Million from Major Retailer
CARROLLTON, Texas--([ BUSINESS WIRE ])--GVI Security Solutions, Inc., (OTCBB: GVSS), a leading provider of video security surveillance solutions featuring the complete Samsung Electronics line of products has been awarded a two year contract extension starting February 1, 2009, to provide video surveillance equipment to a major U.S. based international retailer for its United States asset protection and safety program. Revenue over the two-year term of the award is estimated to be $15 million.
"We are extremely pleased to have been awarded a two year extension on our contract to provide video security systems that meet the exhaustive quality and performance standards of this leading retailer," said GVI Chairman and Chief Executive Officer Steven Walin. "We look forward to continuing to work with this innovative international retail market leader to provide video surveillance products and solutions for their facilities."
About GVI Security Solutions, Inc.
GVI Security Solutions, Inc. (OTCBB: GVSS) is a leading provider of video surveillance and security solutions, with sales and service representation throughout North, Central and South America. The company provides Samsung Electronics and GVI branded products, software and services to the Homeland Security and Commercial markets. Their customers include governments, major retail chains, leading financial institutions and public and private school systems.
Forward-Looking Statements:
Some of the statements made by GVI Security Solutions, Inc. in this press release are forward looking in nature. Forward-looking statements in this press release are not promises or guarantees and are subject to risks and uncertainties that could cause our actual results to differ materially from those anticipated. These statements are based on management's current expectations and assumptions and are naturally subject to uncertainty and changes in circumstances. We caution you not to place undue reliance upon any such forward-looking statements. Actual results may differ materially from those expressed or implied by the statements herein. GVI Security Solutions, Inc. believes that its primary risk factors include, but are not limited to: reliance on primary supplier; concentration of customers; credit limits imposed by primary supplier; effective integration of recently acquired operations and personnel; expansion risks; effective internal processes and systems; the ability to attract and retain high quality employees; changes in the overall economy; rapid change in technology; the number and size of competitors in its markets; outstanding indebtedness; control of the Company by principal stockholders; law and regulatory policy; the mix of products and services offered in the company's target markets; and other factors detailed in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2007 currently on file, as well as the risk that projected business opportunities will fail to materialize or will be delayed.
