logo
Share SHARE
FONT-SIZE Plus   Neg

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 RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A local cable and broadband provider in Texas has filed a lawsuit against Comcast Corp., alleging that the cable giant and its contractors drove it out of business by severing its business cable lines after it rejected Comcast's buyout offer. The lawsuit was filed last week in Harris County, Texas, court by Anthony Luna, owner of Telecom Cable LLC. John Oliver, the host of HBO's Sunday Show "Last Week Tonight," HBO and Time Warner have been sued by coal baron Robert Murray for mocking him and his coal company on the show's most recent episode. Murray had previously sent the show its first cease-and-desist letter. Takata Corp. will file for bankruptcy protection on Monday as the Japanese airbag maker seeks protection from creditors following billions of dollars in liabilities linked to a massive global recall of defective air bags, Reuters reported Thursday, citing two sources.
comments powered by Disqus
Follow RTT