VSE Teams in Five-Year Army Omnibus Acquisition and Life Cycle Support Contract
ALEXANDRIA, Va., Jan. 31 /PRNewswire-FirstCall/ -- VSE Corporation (Nasdaq: VSEC - News) announced today that its Land Systems Division has been awarded a five-year subcontract to provide administrative, management, and technical support services to support the Program Executive Office (PEO) for Combat Support and Combat Services Support at the U.S. Army Tank-automotive & Armaments Command (TACOM) at Warren, Michigan.
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The Army PEO (CS&CSS) organization and assigned product and program managers provide administrative, management and technical service support for assigned weapons and support equipment. Areas of support include project and product management, life cycle management, product assurance and testing, product planning, and technical engineering and logistics support.
VSE's prime contractor teammate on this effort is Barnes & Reinecke, Inc. The new indefinite delivery, indefinite quantity contract is estimated to represent potential team revenues of up to $75 million over a five-year period, depending on work requirements and funding availability.
VSE Vice President Tom Dacus said, "We are very pleased to be part of the team selected by TACOM to assist PEO CS&CSS in achieving mission success. We have remained an integral component of the TACOM industry team for many years, and we look forward to meeting each new challenge in this important program during the coming five years."
VSE provides diversified services to the engineering, energy and environment, security, and defense services markets from more than 15 locations across the United States and around the world. VSE reported consolidated revenues of $103 million and earnings of $650 thousand ($0.30 a share) for the nine-month period ended September 30, 2002. |
