Tetra Tech Inc.
) has won a $17.8 million contract with McClellan Business Park,
LLC. The contract requires Tetra Tech to perform environmental
services for the privatized cleanup of portions of the former
McClellan Air Force Base in California.
Tetra Tech is a leading provider of environmental services and
helps in the development of clean energy solutions and drafts
environment-related public service policies.
The Air force base was transferred by U.S. Air Force to
McClellan Business Park to undergo remedial actions. As per the
terms of the agreement, Tetra Tech will be responsible for
evaluating and undertaking remedial measures over 130
Installation Restoration Program (IRP) sites spanning 600 acres.
Consequently, the area would be available for future development
and job creation.
Although the time of signing the contract has not been
specified, we expect it to be booked in the current quarter.
During the last quarter the company was awarded a number of
long-term contracts, many of them coming from the company's U.S.
federal government programs, like U.S. Agency for International
Earlier this month, Tetra Tech revealed its lower earnings
expectation for the second half of fiscal 2013. The primary
reason behind this projection is the company's poor performance
in Eastern Canada. This contract is expected to help the company
in its recovery during the second half of the year.
Tetra Tech currently has a Zacks Rank #3 (Hold). Other
companies in the industry that are worth considering include
Calgon Carbon Corporation
CECO Environmental Corp.
), all having a Zacks Rank #2 (Buy).
CALGON CARBON (CCC): Free Stock Analysis
CECO ENVIRNMNTL (CECE): Free Stock Analysis
FUEL TECH INC (FTEK): Free Stock Analysis
TETRA TECH NEW (TTEK): Free Stock Analysis
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