VSE Completes Transfer and Overhaul of ex-USNS Powhatan (ATF 166) to the Turkish Navy
ALEXANDRIA, Va.--
VSE Corporation (Nasdaq:VSEC) through its BAV Division recently completed the overhaul and transfer of ex-USNS Powhatan (ATF 166), a Fleet Ocean Tug, for the Turkish Navy. The ship was decommissioned from the U.S. Navy in 1999 and had been on commercial lease for many years. Its departure for Turkey marked the completion of a successful industrial period that spanned three months.
BAV managed the ship's post-transfer overhaul as prime contractor to the Naval Sea Systems Command for support of ships and systems transferred under the Navy's Foreign Military Sales (FMS) program. In preparing ex-Powhatan for continued towing and salvage operations in the Turkish Navy, BAV and its team of subcontractors planned and performed industrial work requiring more than 5,300 workdays. The post-transfer overhaul work was performed in Charleston, South Carolina, and BAV's subcontractors included Detyens Shipyard and Booz|Allen|Hamilton.
In addition to management and performance of the industrial availability, the BAV Team under the direction of VSE Vice President Harry Flammang also provided extensive logistical support including procuring and warehousing all material required for both the industrial work and ships' outfitting. VSE CEO/President/COO Mo Gauthier commented, "One of the primary purposes of the FMS program is the Navy's long-range vision and ongoing efforts towards a global maritime partnership. VSE is proud to play a key role in implementing this vision."
Named #4 in the Forbes 2007 magazine list of the top 200 best small companies, VSE was cited for its "specialty in (transferring) ships the U.S. Navy no longer uses."
Established in 1959, VSE is a diversified professional services company providing engineering and consulting services, systems integration, infrastructure support, and information technology management and solutions, principally to agencies of the United States Government and other government prime contractors at locations across the United States and around the world. For more information on VSE and BAV Division services and products, please see the Company's web site at www.vsecorp.com or contact Len Goldstein, Director of Business and New Product Development at (703) 317-5202.
This news release contains statements which, to the extent they are not recitations of historical fact, constitute "forward looking statements" under federal securities laws. All such statements are intended to be subject to the safe harbor protection provided by applicable securities laws. For discussions identifying some important factors that could cause actual VSE results to differ materially from those anticipated in the forward looking statements in this news release, see VSE's public filings with the Securities and Exchange Commission.
Source: VSE Corporation
Released June 12, 2008