VSE Awarded U.S. Army Rapid Response Support Contract
PR NEWSWIRE - February 03, 2003 15:49
ALEXANDRIA, Va., Feb 3, 2003 /PRNewswire-FirstCall via COMTEX/ -- VSE Corporation (Nasdaq: VSEC) announced today that it has been awarded a multi-year Rapid Response support contract by the U.S. Army Communications-Electronics Command (CECOM) at Fort Monmouth, New Jersey.
VSE led a 29-member team in seeking this contract. Depending on future work requirements and funding availability, the time and materials and firm fixed price contract includes a two-year contract ceiling of $712 million and a total ceiling of $2.9 billion over an eight-year period if all options are exercised. The contract is a multiple award, indefinite delivery, indefinite quantity contract, and accordingly actual revenue estimates for the contract cannot be predicted.
VSE Chairman, President and CEO/COO Don Ervine said, "VSE is very pleased to have been one of the small business contractors selected by CECOM to support the U.S. Army in this important program. Together with our teammates, we are focused on providing CECOM with a full service Rapid Response capability to meet U.S. defense and homeland security needs at this critical period in our history."
VSE services and contract management will be provided through its new Communications and Engineering Division located in Shrewsbury, New Jersey, and Alexandria, Virginia. The contract requires the VSE team to provide CECOM with a broad spectrum of equipment and services to research, develop, upgrade, install, fabricate, test, operate, maintain and support new and existing Government platforms, systems, subsystems, and items. |
