VSE Awarded ID/IQ Contract to Support U.S. Air Force Contract Field Teams Program
Seven-Year Award Seen As Important Link in Developing VSE Support Services for U.S. Air Force Customers
VSE Corporation (Nasdaq:VSEC) has been selected for one of several prime contracts awarded to support the United States Air Force Contract Field Teams (CFT) Program. The CFT Program awards have a maximum ceiling of approximately $10.12 billion and are designed to provide rapid deployment and long-term support services for a variety of Air Force requirements to maintain, repair and modernize equipment and systems. CFT contracts are also used to support requirements generated by the Army, Navy, Coast Guard, Federal Aviation Administration and other Federal agencies.
As a multiple award, indefinite delivery/indefinite quantity (ID/IQ) contract, actual VSE revenues under the contract cannot be predicted. However, the award provides VSE with the opportunity to compete for work which may contribute to future revenue growth.
"The CFT Program has successfully supported maintenance requirements for the Air Force and other military services across the country and around the world for over 50 years," said VSE Assistant Vice President and Air Force Logistics Division Manager William C. Wright. "We are very pleased to be one of the companies selected to join the impressive list of contractor teams ensuring that our armed forces have the support they need to defend our country and support our national security."
VSE CEO/President/COO Mo Gauthier said, "VSE is delighted to announce this important development in our efforts to extend and expand our support services to the U.S. Air Force. We are eager to demonstrate our capabilities and dedication to helping the Air Force meet its commitments and responsibilities."
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 more information on VSE services and products, please see the Company's web site at www.vsecorp.com or contact Len Goldstein, Director of Business and New Product Development at (703) 317-5202.
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