VSE Awarded SeaPort Enhanced Contract
Wednesday April 7, 12:13 pm ET
Fleet Maintenance Division Selected for Fifteen-Year Support Contract
ALEXANDRIA, Va., April 7 /PRNewswire-FirstCall/ -- VSE Corporation (Nasdaq: VSEC - News) reported today that its Fleet Maintenance Division has been awarded an indefinite delivery indefinite quantity contract by the U.S. Naval Surface Warfare Center, Dahlgren Division. The multiple award contract, entitled SeaPort Enhanced ("SeaPort-e"), includes a five-year base period and two five-year option periods. The government anticipates acquiring up to $1.3 billion annually in services through the SeaPort-e electronic procurement system to support all phases of naval ship and shipboard weapons systems acquisition and life-cycle support.
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SeaPort-e contracts are divided among seven U.S. regional zones. VSE's contract award allows the Company to bid for work in all seven zones to support the Naval Sea Systems Command (NAVSEA), the Naval Surface Warfare Centers (NSWCs), and the Naval Undersea Warfare Centers (NUWCs). SeaPort-e tasks are expected to include research and development support, prototyping, acquisition logistics, modeling, test and evaluation trials, and engineering support for Naval Sea Systems Command headquarters, field activities, and affiliated program executive offices.
VSE Chairman of the Board, President, and CEO/COO Don Ervine said, "We are very pleased to have been selected to support the Navy under this new contract, and we look forward to meeting the challenges of this important program over the next 15 years."
VSE and its winning team of 33 subcontractors represent a broad range of firms with experience supporting Naval Warfare Centers around the country across a wide range of engineering, logistics, information technology, and program support tasks. VSE Senior Vice President and Fleet Maintenance Division Manager Mike Hamerly said, "The VSE Team represents an exceptional mix of companies with a proven record of quality and innovative support to the nation's Warfare Centers and their national defense missions. We are excited to have the opportunity to leverage our capabilities to support a unified Warfare Center System that integrates the special capabilities and resources of each."
VSE provides diversified services to the engineering, energy and environment, defense, and homeland security markets from more than 15 locations across the United States and around the world. The company reported revenues of $134 million and net income of $2.0 million ($.92 per share) for its most recent year ended December 31, 2003.
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. For VSE news contact: Craig Weber, CAO, (703) 329-4770. |
