VSE Corp (VSEC)--turnaround is about complete Message Board

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Technology Stocks : VSE Corp (VSEC)--turnaround is about complete

VSEC 180.68

+0.8%

Oct 31 9:30 AM EDT

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To: Paul Lee who started this subject	3/5/2002 12:13:04 PM
From: Paul Lee	of 97

VSE Awarded U.S. Navy Contract VSE Selected for Five-Year, $30 Million Support Contract ALEXANDRIA, Va., March 5 /PRNewswire-FirstCall/ -- VSE (Nasdaq: VSEC - news) announced that its Fleet Maintenance Division has been awarded a contract by the Fleet Industrial Supply Center Philadelphia to support the Naval Sea Systems Command (NAVSEA) Shipbuilding Support Office and will provide engineering and technical support for ship modernization. VSE will continue work which has been ongoing uninterrupted since 1984 with contracts with NAVSEA Shipbuilding Support Office and the Philadelphia Naval Shipyard on subsequent re-competed contracts. The new contract awarded is an indefinite quantity, indefinite delivery type contract with a base year and four one-year option periods extending through 2007. The contract has an estimated five- year value of over $30 million. Work under the contract will commence immediately. VSE Senior Vice President Mike Hamerly said, ``We are very pleased to have been again selected by NAVSEA Shipbuilding Support Office for this important contract. We have supported the Navy's Ship Modernization Program for many years, and we look forward to meeting new challenges in this very important program during the next five years.''

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