VSE Awarded Contract for Explosives Decontamination and Demolition Support Services

(Alexandria, Va., April 12, 2010) -- VSE Corporation (NASDAQ GS: VSEC) reported today that the Fleet Maintenance Division of its International Group has been awarded a $42.5 million cost-plus-fixed-fee, indefinite-delivery/indefinite-quantity contract for decontamination and demolition support services for the U.S. Navy's industrial revitalization program. The contract is a follow-on to an existing contract, Decontamination, Demilitarization, and Demolition Engineering, Technical and Program Support for the Indian Head Division Decontamination Team at the Naval Surface Warfare Center, Indian Head, MD. Under the contract, VSE will provide analytical, technical, and management support services for industrial revitalization efforts to include caretaking assistance, modernization, explosives/energetics decontamination, demilitarization, demolition, and divestiture support for the Navy and other Department of Defense (DoD) customers, as well as non-DoD customers. Work will be performed at Naval Surface Warfare Centers in Indian Head, MD, Crane, IN, and Dahlgren, VA; Naval Weapons Stations in Yorktown, VA, Seal Beach, CA, Concord, CA, and Earle, NJ; and the Naval Air Systems Command, Naval Weapons Industrial Reserve Plants in Texas, New York, Connecticut and Ohio. VSE's winning proposal leveraged a team of proven subject matter experts capable of performing all phases of converting facilities once used to store or manufacture explosives/energetics materials to alternative uses; and certifying facilities environmentally safe before demolition. Michael E. Hamerly, President of VSE's International Group stated, "VSE's previous performance under the industrial revitalization program has been recognized by the customer for its flawless record of safety and environmental compliance. It is especially noteworthy that the majority of our work was performed under very demanding working conditions, given the age of the facilities and variety of contaminants."

Source: VSE Corp.
Date: Apr 13, 2010