URS JV Awarded US Army Corps of Engineers ContractContract Has Maximum Value of $90 Million to Joint Venture
(San Francisco, May 26, 2009) -- URS Corporation (NYSE: URS) today announced that a joint venture between URS and Jacobs Engineering Group Inc. has been awarded an indefinite delivery/indefinite quantity contract to provide general design support and construction management services to the U.S. Army Corps of Engineers (USACE), New Orleans Hurricane Protection Office. URS has an 85% share in the joint venture. The contract consists of a one-year base period, followed by four one-year options, during which the joint venture would compete for task orders with a maximum contract value of $90 million over five years, if all priced options are exercised.
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The joint venture will provide services that will contribute to the reconstruction of New Orleans following the damages caused by Hurricane Katrina. Task orders will include design support, construction management services, and other support work for new or existing structures, such as navigational locks, flood control structures, pumping stations, marine structures, roadways, bridges and buildings in and around the city.
Gary V. Jandegian, President of the URS Division said: "We are delighted by this award, which reflects our strong capabilities in the areas of design and construction services and expands our long-standing relationship with the Army Corps of Engineers. We look forward to continuing to work with the Corps and are especially proud to be assisting with projects that will contribute to the restoration of New Orleans."
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Source : URS Corporation