VSE Awarded GSA Professional Engineering Services Contract
ALEXANDRIA, Va., Feb. 22 /PRNewswire/ -- VSE Corporation (VSE) (Nasdaq: VSEC) reported that it was recently awarded a contract to provide Professional Engineering Services to federal government agencies under the General Services Administration Federal Supply Services Schedules Program. The contract, which is effective as of February 3, 2000, is for five years and represents potential VSE revenues of up to $10 million, depending on customer requirements and funding availability. The contract includes an option for an additional period five years on expiration of the base period.
Professional services offered by VSE and its affiliates and divisions through the GSA Professional Engineering Services contract include mechanical, electrical, chemical, and civil engineering and technical support services. This is the third contract awarded to VSE since 1999 under the GSA Federal Supply Services Schedules Program. In May 1999, VSE was awarded a contract to provide services under a Management, Organizational and Business Improvement Services (MOBIS) contract, and in March. 1999, VSE was awarded an Information Technology (IT) services contract.
"This is our third Federal Supply Schedule contract, and it represents another step in VSE's commitment to provide customers with a range of contract vehicles through which we can provide advanced technology services and products at a competitive price," said Don Ervine, VSE's Chairman and CEO. "Our systems help people succeed, and as a Federal Supply Schedule contractor, we can now provide clients with an efficient and timely way to reach us."
VSE provides diversified services and products to the engineering, energy and environment, health care, information technology, and defense services markets. VSE's principal customers are agencies of the U.S. government and other prime contractors. The company has about 900 employees providing services and products from more than 20 locations across the United States and around the world.
VSE reported consolidated revenues of $123 million and earnings of $0.9 million ($0.43 a share) for the nine-month period ended September 30, 1999.
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Ship Dismantlement and Recycling Joint Venture (SDR) Starts Work on Navy Pilot Program Contract
ALEXANDRIA, Va., Feb. 22 /PRNewswire/ -- Work is underway at the former Hunter's Point Naval Shipyard in San Francisco, California, to dismantle and dispose of the ex-USS Lockwood (FF-1064).
Following a recent decision by the U.S. General Accounting Office (GAO) to uphold the U.S. Navy's selection of Ship Dismantlement and Recycling Joint Venture (SDR) for this work, a project office has been established in San Francisco at what was formerly the Hunter's Point Naval Shipyard to facilitate the dismantlement and disposal process. The $3.7 million contract is one of four competitive contracts awarded by the Navy to bidders under a pilot program to develop and test environmentally sound and cost effective methods for disposing of excess naval ships. The disposal of the ex-USS Lockwood is expected to be completed within approximately six months.
On completion of the pilot program, SDR expects to submit bids to scrap additional ships under the contract. At present, the United States has an inactive fleet of over 200 Navy, Coast Guard, and Maritime Administration ships located at various Inactive Ships Maintenance Facilities around the country.
SDR is a joint venture between Earth Tech, Inc., and Ship Remediation and Recycling, Inc., a subsidiary of VSE Corporation (Nasdaq: VSEC). Additional subcontractors participating in the SDR pilot program include Astoria Metal Corporation, Energetics Incorporated, John J. McMullen Associates, Inc., and Strategic Procurement Services, Inc.
Don Ervine, VSE Chairman and CEO said, "We are pleased that the GAO has ruled to sustain this award to SDR and to allow the Navy to move forward in implementing this important program. Our industry team is ready to demonstrate its capability to carry out this project and satisfy all environmental and occupational safety and health regulations." |
