VSE Corporation (NASDAQ: VSEC) has been selected for one of seven full and open prime contracts awarded to support the United States Air Force Contract Field Teams (CFT) Program. VSE will compete for task orders issued under this Indefinite Delivery/Indefinite Quantity (ID/IQ) contract. The contract period of performance consists of a three-year base period and the potential for two (2), two-year option periods. While we cannot determine the level of business this contract will generate, the maximum ceiling for the contract is $11.4 billion inclusive of all awardees.
The CFT Program provides rapid deployment and long-term support services for the maintenance, repair, and modernization of aircraft, vehicles, weapons systems, and other equipment to support the Government’s war readiness needs. CFT contracts are used to support requirements generated by the Air Force, Army, Navy, Coast Guard, Federal Aviation Administration, Department of Homeland Security, and other Federal agencies.
"VSE has provided vital support to the warfighter through the CFT program since 2009,” said J.R. Brown, VSE’s Federal Services Group President. “We look forward to expanding our efforts under this new contract.”
“Building upon the excellent relationship earned under the prior CFT contract, we successfully competed against an impressive field of large companies for this important maintenance and modernization work,” said Maurice “Mo” Gauthier, VSE CEO, President and COO. “Extending the service life of mission critical assets is what we do best, and the size and scope of this contract vehicle positions us to further support the revitalization of our military’s resources.”
Source: VSE Corporation
Date: Jan 9, 2017