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OSI Geospatial Awarded Contract to Provide the Port of Buffalo with Risk Assessment Services
Ottawa, Canada- OSI Geospatial Inc. (TSX: OSI) announced today that its U.S. Systems Operations has been awarded a contract valued at approximately US$300,000 to provide an integrated vulnerability assessment (IVA) for the Port of Buffalo in New York. The Port of Buffalo is located at the eastern end of Lake Erie and is owned by Gateway Metroport. It is the first major U.S. port of call encountered when entering the Great Lakes. Under the terms of the contract, the company will complete an IVA for the port system and identify actions to effectively mitigate threats to the region’s maritime critical infrastructure. The work is estimated to be completed over a three month period.
This port critical infrastructure protection (CIP) project is being funded by the U.S. Department of Homeland Security (DHS) Port Security Grant Program (PSGP). The funds provided by the PSGP are primarily intended to support the work of increasing port-wide risk management, enhanced domain awareness capabilities through the development and implementation of port-wide risk management/mitigation and Business Continuity/Resumption of trade plans to prevent, detect, respond to and recover from attacks involving improvised explosive devices (IED) and other non-conventional weapons, as well as training and other exercises. The DHS grant program provided for funding of US$388 Million in fiscal year 2008. Similar funds have been allocated for fiscal 2009.
“This is our second IVA contract win under this program and we are actively pursue several other projects. Port Security is a major concern for the U.S. Government and we are pleased to be supporting such an important program,” said Ken Kirkpatrick president and CEO of OSI Geospatial. “The Port CIP market is a high priority for our company and we are confident that we can leverage our IVA expertise to develop and deliver technology solutions for this market.”
About OSI Geospatial
OSI Geospatial Inc. delivers advanced geospatial systems and software that enable shared real-time situational awareness for military and security applications. Our products and services enable our customers to integrate and visualize live data with any combination of sensor data, imagery, maps and charts. This capability provides our customers with enhanced operational performance, safety and security through shared real-time situational awareness. OSI Geospatial systems and software are in use by military, government, and commercial customers around the world. The company is publicly traded on the Toronto Stock Exchange (OSI). For additional information please visit www.osigeospatial.com.
Forward-Looking Statements
This press release contains forward-looking statements and information which reflect the current view of OSI Geospatial Inc (“OSI”) with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and OSI’s actual results of operations could differ materially from historical results or current expectations. Additional information on these and other potential factors that could affect OSI’s financial results are detailed in disclosure documents filed from time to time with the applicable Canadian securities regulatory authorities.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.
Copyright © 2008 OSI Geospatial Inc. and its affiliated or related companies. ECPINS and COP-IDS are registered trademarks of Offshore Systems Ltd., an OSI Geospatial company. IGEN and C3CORE are registered trademarks of CHI Systems Inc., an OSI Geospatial company. Other company brand, product and service names are for identification purposes only and may be either trademarks, service marks or registered trademarks of their respective owners. Data subject to change without notice
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