POMPANO BEACH, Fla.--(BUSINESS WIRE)--Mile Marker International, Inc. (“the Company”) (Pink Sheets: MMRK), a specialty vehicle parts manufacturer and distributor, today announced that the receipt of two military contracts for its patented hydraulic winches.
The Company has received two military contracts from the US Army Tank-Automotive Armament Command (TACOM) totaling $6.8 million dollars over five years. The contracts require the Company to provide its unique and patented hydraulic winch kits for US Army installation. The contracts have a minimum guaranteed order size of $1.2 million, and escalate by 5% in each subsequent year.
Along with its recent awards from the US military, Mile Marker International, Inc. continues to strive to gain more overall market share in the consumer aftermarket with new and innovative products, with customers once again responding to Mile Marker as a leader in quality and reliable products at a reasonable price. Mile Marker’s lock-out hub business doubled in 2010, growth the Company attributes to a number of sizeable new customer wins over the course of last year.
New for 2011, Mile Marker launches a new line of RECOVERY GEAR to prepare for the inevitable when you venture off the beaten path. Housed in durable bags, these integral kits feature premium components that were engineered to meet the demands of the extreme conditions that they will face. Mile Marker also is introducing a new 8,000 pound winch – the “Scout” – which comes with synthetic rope and all the innovative features Mile Marker is known for.