Alexandria, Virginia (March 4, 2014) – VSE Corporation (NASDAQ: VSEC) reported today that its International Group has received several delivery orders totaling more than $13.4M to continue work performed under its Foreign Military Sales (FMS) Naval Ship Transfer and Repair (N*STAR) contract through the Naval Sea Systems Command (NAVSEA) International Fleet Support Program. The recent delivery orders awarded under the Indefinite Delivery/Indefinite Quantity (IDIQ) contract include:
Egyptian Navy Fast Missile Craft (FMC) Post-Delivery Activation, Maintenance and Training
VSE will provide technical, logistic and administrative support on post-delivery activation and reactivation plans for critical systems and subsystems in support of four Fast Missile Craft (FMCs) being delivered to Egypt. VSE will provide in-country support to the Egyptian Navy under this delivery order, which has a period of performance of 13 months and a potential value of $7.6M.
Philippine Navy and Marine Corps In-Country Technical Assistance VSE will provide in-country engineering, technical, and logistics support to the Philippine Navy and Philippine Marine Corps for the BRP General Mariano Alvarez costal patrol ship. This includes all on-site coordination and management of repairs, maintenance, and supply support. This delivery order has a period of performance of 12 months and a total value of $2.7M.
Bahrain Navy Engineering, Technical and Logistics Support
VSE will provide in-country engineering field services and training to the Royal Bahrain Navy in support of their frigate, RBNS Sabha. This includes training, technical assistance and support for shipboard and shipyard maintenance, equipment maintenance and repair. This delivery order has a period of performance of 10 months and a total value of $1.75M.
Various Delivery Orders Supporting FMS
VSE will provide a variety of logistics, technical, planning, and engineering services to several foreign navies under various follow-on technical support delivery orders. These delivery orders have a total combined value of $1.5M and a period of performance of approximately 12–15 months.
"VSE and our entire N*STAR Team remain committed to providing superior training and technical services to our foreign navy allies under our NAVSEA FMS contract," said International Group President Harry Flammang. "These delivery orders allow us to provide vital support to foreign navies to achieve their maritime mission requirements."
Established in 1959, VSE is a diversified federal services company with experience in solving issues of global significance with integrity, agility, and value. VSE is dedicated to making our clients successful by delivering talented people and innovative solutions for supply chain management, logistics, engineering, energy, IT services, and consulting. For additional information regarding VSE services and products, please see the Company's web site at www.vsecorp.com or contact Christine Kaineg, VSE Investor Relations, at (703) 329-3263.