VSE Corporation Receives $42M in New Awards

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ALEXANDRIA, Va.-- VSE Corporation (NASDAQ: VSEC) reported awards received from December 1, 2015 to date totaling approximately $42.2 million. The recent awards include:

  • Red River Army Depot (RRAD) M915A3 Remanufacture
    VSE will provide labor, parts, facilities, management, transportation, tooling, and equipment to remanufacture up to 175 M915A3 trucks provided by Red River Army Depot (RRAD). The work will be performed at VSE facilities in Texarkana, Arkansas. The firm-fixed-price award has a period of performance of 12 months and total award of up to $23M.
  • Egyptian Navy In-Country Technical Assistance and Support
    VSE will provide Follow-On Technical Support (FOTS) for the OSPREY Class Mine Hunter Coastal (MHC) Vessels, including level-of-effort technical, logistics, training, facilities, and administrative support to NAVSEA PMS 326 and the Egyptian Navy’s two (2) MHC ships. This is a delivery order under our Foreign Military Sales (FMS) Naval Ship Transfer and Repair (N*STAR) contract through the Naval Sea Systems Command (NAVSEA) International Fleet Support Program. The delivery order has a period of performance of 12 months and total funded value of $15.2M.
  • Patrol Boats Engineering Service Support
    VSE will provide engineering and material support during the overhaul of counter-narcotics patrol boats in El Salvador and Guatemala. This is a delivery order in support of PMS 325 under our Foreign Military Sales (FMS) Naval Ship Transfer and Repair (N*STAR) contract through the Naval Sea Systems Command (NAVSEA) International Fleet Support Program. The delivery order has a period of performance of 12 months and a total funded value of $4M.

“We are closing our calendar year with several new awards in support of our traditional federal customers,” said Maurice “Mo” Gauthier, VSE CEO, President and COO. “These awards, in addition to previously announced awards, result in a higher backlog entering 2016.”

About VSE

Established in 1959, VSE is a diversified logistics and services company with experience in solving issues of global significance with integrity, agility, and value. VSE is dedicated to making our federal and commercial clients successful by delivering innovative solutions for vehicle, ship, and aircraft sustainment, supply chain management, platform modernization, mission enhancement, program management, energy, IT, and consulting services. For additional information regarding VSE services and products, please see the Company's web site at www.vsecorp.com or contact Christine Kaineg, VSE Investor Relations, at (703) 329-3263.

VSE News Contact
Christine Kaineg, 703-329-3263

Source: VSE Corporation

Released December 17, 2015