VSE Corporation Receives $46.3M in New Awards

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ALEXANDRIA, Va.--(BUSINESS WIRE)-- VSE Corporation (NASDAQ: VSEC) reported several new awards this September to our Federal Services Group totaling approximately $46.3 million. The awards include:

  • NAVSEA FMS Delivery Order Awards
    Several delivery orders to provide services under its Foreign Military Sales (FMS) support contract by the Naval Sea Systems Command (NAVSEA) International Fleet Support Program Office. VSE will provide maritime program support including logistics, planning, repair and maintenance management, supply support, technical assistance, training and engineering support to four of our allied countries. The combined funded value for all delivery orders is approximately $40.8 million.
  • Department of Justice Task Order Awards
    Task orders to provide the U.S. Department of Justice with various maritime logistics support services, including operations management of the vessels and their crew, upkeep of maintenance requirements, ship relocations and marketing efforts. VSE also provides financial analysis and auditing functions to assist the department’s investigations, along with expertise in local real estate law. The combined funded value for the DOJ International Asset Recovery Support Services (IARSS) Time & Materials (T&M) task orders is approximately $5.5 million over a twelve month period of performance.

"We and our cadre of best-in-class teammates are well positioned to provide exceptional technical support and training services to our customers under these delivery orders and task orders," said J.R. Brown, VSE’s Federal Services Group President. "We offer innovative solutions to our clients to ensure they have the best resources and support available to achieve their mission requirements."

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 October 11, 2018