VSE Reports Award for US Army Support Services
New Award Represents Potential VSE Revenues of up to Approximately $389 Million
ALEXANDRIA, Va.-- VSE Corporation (Nasdaq GS:VSEC) reported today that its Federal Group Communications & Engineering Division and Field Support Services Division were awarded a new contract task order. This new task order for US Army Support Services represents potential VSE revenues of up to approximately $389 million over the next two years, if the task order option period is exercised.
Under the new competitively awarded task order, VSE and its major subcontractor will provide technical support services including program management, integrated logistics, repair, maintenance and sustainment of route and area clearance countermine/counter Improvised Explosive Device vehicular systems on behalf of the US Army Program Executive Office Combat Support and Combat Service Support systems, Product Manager for Assured Mobility Systems (AMS). Work will be performed primarily in Southwest Asia with the total effort targeted to provide rapid turn-around of repaired military assets to the combat soldier.
VSE CEO/President/COO Mo Gauthier said, "VSE looks forward to working with our military clients and teammates to support this important readiness task. Our team has a successful record in troubleshooting, repairing, and sustaining route clearance equipment. With our teammates, we also provide Contractor Logistic Support for Route Clearance Equipment to PM AMS in Iraq and Afghanistan, and under separate tasking, we support a Letterkenny Army Depot Route Clearance Vehicle modernization program in Kuwait."
About VSE
VSE marks its 50th year as a government contractor in January 2009. 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 additional information on VSE services and products, please see the company's web site at www.vsecorp.com or contact Randy Hollstein, VSE Corporate Vice President of Marketing, at (703) 329-3206.
Safe Harbor
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 January 29, 2009