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  • Wednesday, April 24, 2024

VSE Receives $100M IDIQ Contract to Extend Foreign Naval Systems Support

VSE (Nasdaq: VSEC) has received a $100 million contract from the U.S. Navy to extend by one year the company’s mission-critical support for eligible foreign naval platforms.

Naval Sea Systems Command issued the cost-plus-fixed-fee, indefinite-delivery/indefinite-quantity contract to ensure the service branch’s foreign military sales customers will continue to receive assistance to transfer, operate and maintain naval platforms, the Department of Defense said Tuesday.

The sole-source IDIQ award is intended to fill a gap as the Navy works to finalize the FMS supportability follow-on technical support program.

Eighty percent of work will take place in locations outside the continental U.S. and the remaining 20 percent will happen within the continental U.S.

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