With the imminent departure of US forces from Iraq, the need for military equipment and security have never been greater.
Exton, PA (PRWEB) September 01, 2011
Defense Solutions Holding, Inc. (DFSH:PK), CEO Timothy Ringgold outlined the firm’s five year growth plan that capitalizes on the firm’s extensive opportunities in Iraq. Defense Solutions has worked in Iraq since 2005 when it was the only supplier of battle tanks to the new Iraqi Army.
Release of the business plan followed a week of meetings in the US with the head of the firm’s staff in Iraq. “We have three primary lines of business: oil, military equipment, and security – and Iraq needs them all,” Ringgold said. “With the imminent departure of US forces from Iraq, the need for military equipment and security have never been greater.”
Ringgold advised shareholders that he plans be in Turkey on Monday to finalize banking to support proposed oil contracts Iraq. “Afterwards we’ll meet with the refinery before traveling to Baghdad to sign a contract,” he added.
Two weeks ago CEO Ringgold informed Shareholders of “the award of a major crude oil contract to Defense Solutions. Since then” Ringgold said, “we’ve worked tirelessly to identify major oil refineries and to secure project financing estimated at $1 billion. We are pleased to inform our shareholders that project financing is in place for us to accept any crude oil contract offered by the Iraq Ministry of Oil.”
In addition to the proposed crude oil contract, Defense Solutions received contract award notification for Iraq straight run fuel oil, a contract estimated at $60 million. “If successful, “Ringgold said, “This will be the first fuel oil contract issued by Iraq since 2009. We at Defense Solutions are very pleased with this award and appreciative of the confidence in our operations shown by the Iraqi Government. We will do our best not to disappoint.” Ringgold added.
About Defense Solutions:
Defense Solutions has worked for Federal and State agencies, the White House, and international allied organizations including Iraq's Defense Ministry, NATO, and US Forces in Iraq to devise and implement strategies supporting military and security programs.
Certain matters discussed in this release may constitute "forward-looking statements." Actual results and the timing of certain events may differ materially from those indicated by such forward-looking statements due to a variety of risks and uncertainties, many of which are beyond Defense Solutions' ability to control or predict, including, but not limited to, risks and uncertainties outlined in reports filed by Defense Solutions with the Securities and Exchange Commission. Statements made herein are made as of the date of this release, and Defense Solutions undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Defense Solutions Holding, Inc.