Engineering, construction and technical services provider
) announced on Monday that it has received a couple of
indefinite-delivery/indefinite-quantity (ID/IQ), multiple-award
pillar contracts from the Space and Naval Warfare Systems Center
Atlantic (SSC Atlantic). The news, however, failed to cheer the
investors and the company's share price dropped 2.65% to
URS is one of the 15 prime contractors to be selected to
provide services for business and force support. As for the
second contract, URS was chosen as one of the 13 prime
contractors to provide integrated cyber security support. The
base period for each contract is one year along with four
one-year option periods. Both the contracts have a total maximum
value of $899 million depending upon the options exercised.
SSC Atlantic has some specific technological requirements for
which pillar contracts are required. The scope of the contract
requires URS to win/compete for orders for providing Business
Technology, Network and Cyber Security Support Services to the
Besides these, URS was also awarded the subcontract as a
teaming partner on 10 small-business pillar awards and a couple
of full and open pillar awards for supporting SSC Atlantic in
other core services. These diverse services include transport
infrastructure, computing and decision making support along with
production, installation and in-service. URS will also provide
support for battlespace awareness and data protection of critical
importance for the Navy.
URS has a rich experience in supporting Army and Navy
departments of U.S. for major engineering and construction
projects. In July, it had also received an $800 million ID/IQ
contract from the Naval Facilities Engineering Command, Atlantic,
to accomplish global contingency construction projects
URS currently has a Zacks Rank #3 (Hold). Better stocks within
the industry that warrant a look includes
Pernix Group Inc.
). All three stocks carry a Zacks Rank #2 (Buy).
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