Retractable Technologies, Inc. Receives Notice of Intent to Extend Government Contract
April 19 2021 - 12:20PM
Business Wire
Retractable Technologies, Inc. (NYSE American: RVP) announced
today that, in accordance with the 30 day notice requirement, it
received a preliminary notice from the U.S. Department of Health
and Human Services, Office of the Assistant Secretary for
Preparedness & Response (“HHS/ASPR”) expressing its intent to
exercise at least the first two one-month options under the
February 2021 contract between HHS/ASPR and Retractable. Such
option exercises would extend the July 14, 2021 base period
expiration date to September 14, 2021. As previously disclosed, the
HHS/ASPR February 2021 contract includes a total of seven one-month
option periods. The two one-month option periods referenced by the
preliminary notice would relate to an overall purchase price of
approximately $23.5 million, including freight costs.
For more information on Retractable, visit its website at
www.retractable.com.
Forward-looking statements in this press release are made
pursuant to the safe harbor provision of the Private Securities
Litigation Reform Act of 1995 and reflect Retractable's current
views with respect to future events. Retractable believes that the
expectations reflected in such forward-looking statements are
accurate. However, Retractable cannot assure you that such
expectations will materialize. Actual future performance could
differ materially from such statements.
Factors that could cause or contribute to such differences
include, but are not limited to: the impact of COVID-19 on all
facets of logistics and operations, as well as costs, Retractable’s
ability to complete capital improvements and ramp up domestic
production in response to government agreements, potential tariffs,
Retractable's ability to maintain liquidity; Retractable's
maintenance of patent protection; Retractable's ability to maintain
favorable third party manufacturing and supplier arrangements and
relationships; foreign trade risk; Retractable's ability to access
the market; production costs; the impact of larger market players
in providing devices to the safety market; and other risks and
uncertainties that are detailed from time to time in Retractable's
periodic reports filed with the U.S. Securities and Exchange
Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20210419005715/en/
Retractable Technologies, Inc. John W. Fort III, 888-806-2626 or
972-294-1010 Vice President and Chief Financial Officer
Retractable Technologies (AMEX:RVP)
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