VSE Corporation Announces $44 Million in New Awards

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ALEXANDRIA, Va.--(BUSINESS WIRE)-- VSE Corporation (NASDAQ: VSEC), a leading provider of aftermarket distribution and repair services for land, sea and air transportation assets for government and commercial markets, today announced approximately $44 million in task and delivery order awards with the United States Department of Defense (“DOD”), with work expected to begin in the second quarter of 2020.

These awards include the following:

  • A 39-month task order for new work under the Contractor Field Team (CFT) program to provide flight line operations and aircraft maintenance and maintenance support to the Commander, Naval Air Forces Atlantic (CNAL) Fleet Replacement Squadron (FRS) at Naval Air Station (NAS) Jacksonville, Florida for Boeing P-8 Poseidon and Lockheed P-3 Orion aircraft.
  • Multiple delivery orders to provide services under VSE’s Foreign Military Sales contract with the Naval Sea Systems Command (“NAVSEA”) International Fleet Support Program Office. Under these delivery orders, VSE will provide maritime program support including logistics, planning, maintenance, training and engineering support to allied countries of the United States.

“During the last 60 days, VSE announced more than $160 million in new contract awards with government customers,” stated John Cuomo, President and CEO of VSE Corporation. “We remain focused on growing our Federal & Defense segment backlog through an expansion of VSE’s core contracting and capability solutions, while growing with both new and existing customers. We look forward to furthering our support of NAVSEA and our allied foreign navies, and expanding our work under the CFT program at Naval Air Station Jacksonville.”

ABOUT VSE CORPORATION

VSE is a leading provider of aftermarket distribution and repair services for land, sea and air transportation assets for government and commercial markets. Core services include maintenance, repair and overhaul (MRO) services, parts distribution, supply chain management and logistics, engineering support, and consulting and training services for global commercial, federal, military and defense customers. VSE also provides information technology and energy consulting services. For additional information regarding VSE’s services and products, visit us at www.vsecorp.com.

INVESTOR RELATIONS
Noel Ryan
720.778.2415
investors@vsecorp.com

Source: VSE Corporation

Released May 13, 2020