ENG Awarded Contract by Defense Logistics Agency

Rhea-AI Summary

ENG (NASDAQ:ENG) has announced a new contract awarded to its subsidiary, ENGlobal Government Services, by the Defense Logistics Agency (DLA) to enhance Automated Fuel Handling Equipment at two major U.S. military bases. The contract, valued at over $2.5 million, will commence in May 2022 and last approximately 15 months. The upgrades include advanced control systems for real-time data acquisition and inventory management. EGS has served the U.S. military for 17 years, covering over 150 locations.

Positive

• Awarded a contract worth over $2.5 million from the Defense Logistics Agency.
• Contract duration of approximately 15 months enhances revenue potential.
• Strengthens ENG's longstanding relationship with the Department of Defense.

Negative

• None.

HOUSTON, TX / ACCESSWIRE / April 26, 2022 / ENG (NASDAQ:ENG), a leading provider of innovative project delivery solutions for the energy industry, today announced that its wholly owned subsidiary, ENGlobal Government Services, Inc. (EGS), has been awarded a new contract order by the Defense Logistics Agency (DLA), a sub-tier of the Department of Defense, to upgrade the Automated Fuel Handling Equipment (AFHE) at two undisclosed major U.S. military bases.

The contract is expected to start in May 2022 and last for approximately 15 months. The contract, currently estimated at over $2.5 million, is to update Automated Fuel Handling Equipment and Supervisory Control and Data Acquisition systems which are comprised of computers, networked data communications, and graphical user interfaces. The AFHE system provides the end users with assured real-time data acquisition and automated inventory management thus allowing for more efficient operations.

EGS is one of the three prime contractors regularly serving under DLA's program to provide AFHE technology upgrades at U.S. military bases throughout the world.

"We are proud to receive this new assignment from the DLA, among our most valued clients. As always, we look forward to serving this vital area of our nation's defense infrastructure," said EGS Senior Vice President Kevin Holfeld.

ENG has provided diverse fueling system solutions to the U.S. Military for the past 17 years, working at over 150 locations.

About ENG

ENG (NASDAQ:ENG) is a leading provider of complete project solutions for renewable and traditional energy throughout the United States and internationally. ENG operates through two business segments: Commercial and Government Services. The Commercial segment provides engineering, design, fabrication, construction and integration of automated control systems as a complete packaged solution for its clients. The Government Services segment provides engineering, design, installation, operations, and maintenance of various government, public sector, and international facilities, specializing in turnkey automation and instrumentation systems for the U.S. Defense industry worldwide. Further information about the Company and its businesses is available at www.englobal.com.

Safe Harbor for Forward-Looking Statements

The statements above regarding the Company's expectations, including those relating to its future results, its operations and certain other matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws and are subject to risks and uncertainties. For a discussion of risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ENG's filings with the Securities and Exchange Commission, including the Company's most recent reports on Form 10-K and 10-Q, and other SEC filings.

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CONTACT:
Market Makers - Investor Relations
Jimmy Caplan
512-329-9505
Email: jimmycaplan@me.com

Market Makers - Media Relations
Rick Eisenberg
212-496-6828
Email: eiscom@msn.com

SOURCE: ENGlobal

View source version on accesswire.com:
https://www.accesswire.com/698630/ENG-Awarded-Contract-by-Defense-Logistics-Agency

FAQ

What new contract did ENG receive from the Defense Logistics Agency?

ENG was awarded a contract to upgrade Automated Fuel Handling Equipment worth over $2.5 million.

When will the contract awarded to ENG start?

The contract is expected to start in May 2022.

How long will the contract for Automated Fuel Handling Equipment upgrades last?

The contract is anticipated to last for approximately 15 months.

What is the significance of the contract awarded to ENG?

The contract reinforces ENG's role as a prime contractor for DLA, contributing to its revenue and relationship with U.S. military operations.