Pittsburgh, November 23, 2009 — Geospatial Holdings unit Utility Services and Consulting Corp., entered into a multi-year contract with El Paso Electric Co.
The contract is to provide utility location and mapping services throughout portions of New Mexico and Texas.
The initial term of the contract is for two years with options for three additional one year extensions. Revenue to Geospatial over the full term of the contract is projected to reach $1.7 million.
El Paso Electric generates and distributes electricity through an interconnected system to about 363,000 customers in west Texas and southern New Mexico.
Work on this multi-year contract began today. The unit-price pipeline location contract covers El Paso Energy’s service territory, which follows the Rio Grande Valley from the Texas/Mexico border northward for approximately seventy miles including parts of Texas and New Mexico.
Mark A. Smith, Geospatial’s CEO said, “I’m delighted with the successes that Geospatial and USCC are experiencing in the Southwest. In the past several weeks USCC has announced multi-year contracts with Qwest Communications, Excel Energy and now El Paso Electric. I believe that we have reached a tipping point in our market penetration and we are looking to rapidly expand these relationships across the USA.”
