logo
Plus   Neg
Share
Email

VSE Global Division Retains U.S. Naval Sea Systems Contract - Update

VSE Corp. (VSEC) Monday said its global division has retained a one-year $277 million cost-plus-award-fee, contract by the U.S. Naval Sea Systems Command as the U.S. Government Accountability Office denied a protest to the award of the contract to the company.

The indefinite-delivery, indefinite-quantity contract, having five-year maximum potential of $1.5 billion, was announced originally on October 3, 2011.

The contract is for continuous lifecycle support of naval vessels bought, sold, or otherwise transferred to Foreign Military Sales customers through the International Fleet Support Program.

VSE will lead its Naval Ship Transfer and Repair team with services to foreign customers and allies, including design, configuration management, field engineering, maintenance planning and maintenance, among others.

In addition, the team will provide engineering, technical, procurement, logistics, test, inspection, calibration, repair, maintenance, equipment upgrade installation, and overhaul support services.

Raytheon, Science Applications International Corp., Thales Naval, Inc., Lockheed Martin, Computer Sciences Corp. and BAE Systems are some of the other team members.

VSE has been performing Ship Transfer and Follow-on Technical Support work for the Naval Sea Systems Command since 1995.

VSEC closed on Friday at $25.76, up from the prior close of $25.11, on 3,800 shares.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Member of Congress have reportedly been told President Donald Trump's administration has reached an agreement to put Chinese telecom giant ZTE Corp. back in business. Reports from the New York Times and Reuters said the deal brokered by the Commerce Department would require ZTE to pay a substantial... Delta Air Lines will resume non-stop flights between the U.S. and India next year, almost a decade after it exited the Indian market. The airline said Thursday that its decision to resume non-stop flights from the U.S. to India follows agreements between the U.S. and the governments of the United Arab Emirates and Qatar to address the issue of government subsidies provided to state-owned carriers. Mortgage rates continued their upward trend this week and hit a seven-year high, even as housing demand remained robust. According to data released Thursday by mortgage finance provider Freddie Mac, the 30-year fixed-rate mortgage rose to 4.66 percent in the week ending May 24, from 4.61 percent in the prior week and 3.95 percent a year ago. This is also the highest level since May 5, 2011.
RELATED NEWS
Trade VSEC now with 
Follow RTT