QinetiQ Wins $1B For UK Military Support; Leo Quinn Comments

QinetiQLogoQinetiq Group PLC has won a potential five-year, $1.6 billion contract extension to continue providing support services to the U.K. Ministry of Defence, the company said Friday.

The company manages 17 ministry-owned sites and maintains equipment, land and buildings under the long term partnering agreement, originally signed in February 2003.

The agreement runs for 25 years and is worth up to $8.8 billion.

Under the most recent renewal, the company and the government agreed to terms covering services for test and evaluation and training support.

“We are committed to continuing to invest in these capabilities over the next five-year period to provide this vital service to the MOD in support of the front line, ” CEO Leo Quinn said.

QinetiQ is also responsible for delivering an investment program in an attempt to adapt its services to the ministry’s evolving needs over time.

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