PAE Awarded $28M Counterdrug Surveillance Systems Task Order on Department of Defense Counternarcotics and Global Threats Contract

Rhea-AI Summary

PAE (NASDAQ: PAE, PAEWW) has secured a $28 million task order from the U.S. Department of Defense under its Counternarcotics and Global Threats contract. The company will provide program management, operations, and maintenance for systems aimed at detecting and monitoring illicit drug transit. This four-year task order focuses on maintaining radar systems in South and Central America, reinforcing PAE's role in national security initiatives against drug trafficking.

Positive

• Secured a $28 million task order from the U.S. Department of Defense.
• Expanded role in national security with a focus on combating drug trafficking.

Negative

• None.

FALLS CHURCH, Va., Aug. 30, 2021 (GLOBE NEWSWIRE) -- PAE (NASDAQ: PAE, PAEWW), a global leader merging technology with advanced business practices, delivering innovative solutions to the U.S. government and its allies, was awarded a $28 million Counterdrug Surveillance Systems task order by the U.S. Department of Defense on its Counternarcotics and Global Threats contract. PAE will provide program management, operations and maintenance and mission support for systems that detect and monitor the transit of illicit drugs.

PAE Interim President and CEO Charlie Peiffer said PAE has the specialized expertise needed to support these systems to meet the program’s mission objectives with this new work.

“We look forward to expanding our support for Department of Defense national security initiatives as we apply our wide-ranging capabilities to technologies combating drug trafficking operations,” Peiffer said.

PAE’s Infrastructure and Logistics team will maintain radar systems throughout South and Central America on the four-year task order, supporting the Department of Defense in its role as the lead agency for disrupting illicit drug trafficking activity threatening U.S. national security.

About PAE
For more than 65 years, PAE has tackled the world’s toughest challenges to deliver agile and steadfast solutions to the U.S. government and host government partners. With a global workforce of about 20,000 on all seven continents and in approximately 60 countries, PAE delivers a broad range of operational support services to meet the critical needs of our clients. Our headquarters is in Falls Church, Virginia. Find us online at pae.com, on Facebook, Twitter and LinkedIn.

Forward-Looking Statements
This press release may contain a number of “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about PAE’s possible or assumed future results of operations, financial results, backlog, estimation of resources for contracts, strategy for and management of growth, needs for additional capital, risks related to U.S. government contracting generally, including congressional approval of appropriations, bid protests, risks related to IDIQ contracts, disruptions caused by events outside our control; and risks related to operating internationally. These forward-looking statements are based on PAE’s management’s current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events.  

These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside PAE’s management’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.  

Forward-looking statements included in this release speak only as of the date of this release. PAE does not undertake any obligation to update its forward-looking statements to reflect events or circumstances after the date of this release except as may be required by the federal securities laws.  

For media inquiries regarding PAE, contact:
Terrence Nowlin
Senior Communications Manager
PAE
703-656-7423
terrence.nowlin@pae.com

For investor inquiries regarding PAE, contact:
Mark Zindler
Vice President, Investor Relations
PAE
703-717-6017
mark.zindler@pae.com

FAQ

What is the value of the task order received by PAE?

PAE was awarded a $28 million task order by the U.S. Department of Defense.

How long is the task order awarded to PAE?

The task order is for four years.

What is the focus of the task order awarded to PAE?

The task order focuses on program management, operations, and maintenance for drug surveillance systems.

Which regions will PAE's operations support under the new task order?

PAE will maintain radar systems throughout South and Central America.

What is PAE's role in U.S. national security regarding the new contract?

PAE will support national security initiatives by combating drug trafficking operations as part of the task order.