Business Briefs: Geospatial Holdings Subsidiary Gets Multi-Year Contract.
\Geospatial Holdings, Inc. (OTCBB: GSPH) recently announced that the company, through its wholly-owned subsidiary Utility Services and Consulting Corp., (USCC) has entered into a multi-year contract with El Paso Electric Company (NYSE symbol: EE). 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 approximately 363,000 customers in west Texas and southern New Mexico. Work on this multi-year contract began in November.
