Jacobs Engineering Group Inc. (NYSE: JEC) announced today that it received a design and engineering support program (DESP) III prime contract from the Air Force Materiel Command (AFMC) Contracting Directorate.
Officials estimate the potential value of this multiple-award indefinite delivery/indefinite quantity (IDIQ) contract to be $1.9 billion over the seven-year period of performance.
Under the DESP III contract, Jacobs is providing engineering services to support AFMC weapon systems, components and support equipment. Since 2005, Jacobs has provided program management, systems and specialty engineering, logistics support and research and development as a prime contractor on the predecessor DESP II contract.
In making the announcement, Jacobs President and CEO Craig Martin stated, "We have a longstanding relationship with our Air Force customers, and we are excited to have this opportunity to build on our ongoing support and contribute to the success of the AFMC mission."
Source: Jacobs Engineering Group Inc.
Date: Jan 31, 2012