VSE Wins $244M Vehicle Maintenance, Repair and Overhaul Task Order
VSE will provide on-site logistics support at Red River Army Depot
ALEXANDRIA, Va.-- VSE Corporation (NASDAQ: VSEC) recently was awarded an Equipment Related Services (ERS) task order under the TACOM Strategic Services Solutions (TS3) contract to support maintenance, repair, overhaul, modification and upgrade of military vehicles and other equipment for the Red River Army Depot (RRAD) located west of Texarkana, Texas. This task order consists of a base year (including a base surge option), two one-year options and an additional six-month option for a total potential value of $243.8 million, if all options are exercised. We disclosed this award, which was under protest, in our recently filed 10-K and Earnings Release last month. GAO subsequently denied the protest and affirmed the award to VSE.
VSE will provide on-site contractor logistics support at RRAD to include maintenance, repair, overhaul, modification, and upgrade of Bradley Fighting Vehicle Systems (BFVS), Multiple Launch Rocket System (MLRS) vehicles, Rubber Products (track and road-wheels), Tactical Wheeled Vehicles (trucks, tractors, and trailers), Bridge Boats, Secondary Components, Mine-Resistant Ambush Protected (MRAP) Vehicles, Armored Security Vehicles, Small Unit Support Vehicles (SUSV), All Terrain Material Handling Equipment and MRAP University (MRAP-U) support. This effort is estimated to employ over 1,100 employees from VSE and the supporting subcontractors beginning on or about May 16, 2016.
“VSE’s legacy is built on providing customized maintenance, repair and overhaul solutions for sustaining our customers’ mission-critical platforms,” said Maurice “Mo” Gauthier, VSE’s CEO, President, and COO. “We will ensure that the equipment and programs we support at RRAD remain at peak readiness at all times. Our success as a team depends upon our individual commitment to our clients’ success as they navigate the world in pursuit of our nation’s goals.”
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 April 4, 2016