News for 'FIGI' - (Fortress International Group Subsidiary Innovative Power Systems, Inc. Wins $7 Million Contract With WMATA)
COLUMBIA, Md., Jan. 30, 2013 /PRNewswire via COMTEX/ -- Fortress International
Group, Inc. (Other OTC: FIGI), a provider of consulting and engineering,
construction man agement and 24/7/365 site services for mission-critical
facilities, is pleased to announce today that its subsidiary, Innovative Power
Systems, Inc., will provide Critical Batteries and other services to WMATA -
Washington Metropolitan Area Transit Authority. Services are to include delivery
components, storage, and charging of critical batteries. The contract will
extend over a five-year period, with the majority of the revenue expected to be
realized during the first half of 2013.
Anthony Angelini, Fortress CEO, stated, "We are pleased with this contract that
Innovative was able to secure with WMATA. The batteries are part of the mission
critical infrastructure of the Washington metropolitan transit system and
further represent the trust that major organizations are provided every day from
Fortress and our subsidiaries."
About Innovative Power Systems, a subsidiary of Fortress International
GroupInnovative Power Systems, Inc. is a preferred provider of turn-key
installation services for Critical Power and Cooling. With DoD cleared personnel
that include licensed electrical, HVAC/mechanical, and factory certified
technicians, we obtain the highest level of customer satisfaction. We provide
single source project coordination and management services for installation and
life cycle maintenance of Critical Infrastructure power and cooling systems. Our
team has over 80 years of combined experience with UPS, Generator, Critical
Power & Cooling Systems, and large-complex IT Projects for Public Sector and
Commercial clients. We have managed hundreds of installations throughout the
world. Other services include site planning and consultation, electrical
engineering, site surveys, equipment service (start-ups, emergency service,
preventive maintenance, and load bank tests), battery installation and testing,
generator installation, equipment deliveries and battery recyclin g/disposal.
Innovative Power Systems, Inc. (www.invpower.com) is a wholly owned subsidiary
of Fortress International Group, Inc. (www.thefigi.com) headquartered in
Columbia, Maryland.
About Fortress International Group, Inc.Fortress International Group, Inc. is
leading mission-critical facilities into a new era of maximum uptime and
efficiency. Fortress provides consulting and engineering, construction
management and 24/7/365 site services for the world's most technology dependent
organizations. Serving as a trusted advisor, Fortress delivers the strategic
guidance and pre-planning that makes every stage of the critical facility
lifecycle more efficient. For those who own, lease or manage mission-critical
facilities, Fortress provides innovative end-to-end capital management, energy,
IT strategy, procurement, design, construction, implementation and operations
solutions that optimize performance and reduce cost.
Fortress International Group, Inc. is headquartered in Maryland, with offices
throughout the U.S. For more information, visit: www.thefigi.com or call
888-321-4877.
Fortress International Group, Inc. -- setting a new standard for the optimized
critical facility.
Forward Looking Statements This press release may contain "forward-looking
statements" -- that is, statements related to future -- not past -- events,
plans, and prospects. In this context, forward-looking statements may address
matters such as our expected future business and financial performance, and
often contain words such as "guidance," "expects," "anticipates," "intends,"
"plans," "believes," "seeks," "should," or "will." Forward-looking statements by
their nature address matters that are, to different degrees, uncertain.
Particular uncertainties that could adversely or positively affect the Company's
future results include: the Company's reliance on a significant portion of its
revenues from a limited number of customers; risks relating to operating in a
highly competitive industry; actual or potential conflicts of interest between
the Company and members of the Company's senior management; risks relating to
rapid technological, structural, and competitive changes affecting the
industries the Company serves; the uncertainty as to whether the Company can
replace its backlog; risks involved in properly managing complex projects; risks
relating the possible cancellation of customer contracts on short notice; risks
relating our ability to continue to implement our strategy, including having
sufficient financial resources to carry out that strategy; risks relating to our
ability to meet all of the terms and conditions of our debt obligations;
uncertainty related to current economic conditions and the related impact on
demand for our services; and other risks and uncertainties disclosed in the
Company's filin gs with the Securities and Exchange Commission, including the
Annual Report on Form 10-K for the fiscal year ended December 31, 2011. These
uncertainties may cause the Company's actual future results to be materially
different than those expressed in the Company's forward-looking statements. The
Company does not undertake to update its forward-looking statements.
If you'd like more information regarding this topic, please contact Ms. Toi
Barnhardt at 410.423.7382 or email at tbarnhardt@thefigi.com.
SOURCE Fortress International Group, Inc.
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