Thursday, URS Corp. (URS), a provider of engineering, construction and technical services, announced that the company has been awarded four new contracts by the Department of Defense to provide engineering services and maintenance support to the U.S. Army and U.S. Navy. The company stated that the four contracts, which have a combined maximum value of $316 million, are valid for over five years.
URS indicated that the first $46 million contract is to provide inspection and maintenance on U.S. Army equipment in South Korea. The contract includes a one-year base period followed by four one-year options.
The second contract worth $103 million is to provide aircraft maintenance and modification services to the U.S. Army Communications-Electronics Research, Development, and Engineering Center. The contract includes a one-year base period followed by two one-year options.
The third contract consisting of $140 million dollar is to provide technical, maintenance and repair services to the U.S. Army's Iraq Maintenance and Tire Repair Mission for U.S. and coalition forces at multiple locations within Iraq. The contract includes a one year base period followed by four one-year options.
The fourth contract of $27 million is to provide engineering, technical, and program management support to the radar technologies division of the naval surface warfare center of Indiana division and the contract is for a period of five year.
URS with facilities in more than 30 countries expects further contracts to support Department of Defense on critical defense initiatives.
URS is traded at $46.60 up $0.23 or 0.50% on the NYSE.
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