Versar, Inc. Joint Venture Awarded up to $950m IDIQ with U.S. Air Force
Accesswire 21-Mar-2017 7:30 AM
SPRINGFIELD, VA / ACCESSWIRE / March 21, 2017 / Versar, Inc. (NYSE MKT: VSR) today announced that its long-term joint venture (JV) with Johnson Controls Federal Systems (JCFS) was awarded the Worldwide Engineering & Construction (WE&C) Indefinite Delivery Indefinite Quantity (IDIQ) contract by the Air Force Installation Contracting Agency (AFICA) in support of the Air Force Civil Engineering Center (AFCEC). The WE&C contract ceiling is $950 million over a five year base period and three additional one-year option periods. Individual task orders will be competed among the eleven selected firms.
The WE&C contract includes the full range of construction, engineering and design-build for new facilities, and repair, renovation, and/or restoration for existing facilities and infrastructure. Task order locations will primarily be outside the 48 contiguous United States (OCONUS) and will include sites in remote, austere, and high risk/contingency areas. There may also be task orders for large and/or complex projects within the 48 contiguous United States. Examples of such projects include, but are not limited to, airfield paving projects, renovation of historic structures, Sensitive Compartmented Information Facility (SCIF) or related security facilities, non-standard or unique structures, and design-build projects involving specialized Anti-Terrorism/Force Protection requirements.
Tony Otten, Chief Executive Officer of Versar, said, "The JCFS/Versar JV is honored to have been awarded the WE&C contract. The JV now holds both contracts (Sustainment, Restoration, & Modernization (SRM) Acquisition Task Order Contract - SATOC and WE&C) that AFICA uses to support the Air Force's built infrastructure requirements. Coupled with our portfolio of engineering and environmental contracts, Versar is uniquely positioned to support the Air Force across their entire asset management program. We look forward to continuing our long-term relationship with JCFS to provide AFICA the expertise and dedication to critical projects throughout the world."
VERSAR, INC., headquartered in Springfield, Virginia, is a publicly-traded global project management company providing sustainable value oriented solutions to government and commercial clients in the construction management, environmental services, and professional services market areas.
VERSAR operates the following websites: www.versar.com and www.versarpps.com.
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This news release contains forward-looking information. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be significantly impacted by certain risks and uncertainties described herein and in Versar's Annual Report on Form 10-K filed with the Securities and Exchange Commission for the fiscal year ended June 26, 2015, as updated from time to time in the Company's periodic filings. The forward-looking statements are made as of the date hereof and Versar does not undertake to update its forward-looking statements.
Karin Weber M&A, Investor Relations Manager Versar, Inc. (703) 642-6706 firstname.lastname@example.org
Robert Ferri Robert Ferri Partners (415) 575-1589 email@example.com
SOURCE: Versar, Inc.