PAE Awarded Seat on $800M Global Architect - Engineer Services III IDIQ by USAID Bureau for Development, Democracy and Innovation

Rhea-AI Summary

PAE (NASDAQ: PAE, PAEWW) has been awarded a position on a seven-year, $800 million contract by the U.S. Agency for International Development (USAID) for Global Architect-Engineer Services III. The contract will enable PAE to provide essential infrastructure services including planning, engineering design, and construction supervision. PAE aims to support USAID’s initiatives with technical expertise across various sectors such as water, transportation, and energy. This opportunity positions PAE among seven large contractors set to compete for task orders in global infrastructure projects.

Positive

• Secured a seven-year, $800 million contract with USAID.
• Opportunity to provide diverse infrastructure services globally.
• Enhanced credibility and visibility by joining a competitive contractor group.

Negative

• None.

FALLS CHURCH, Va., Aug. 03, 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 host country partners, was awarded a seat on the seven-year, $800 million Global Architect-Engineer Services III indefinite delivery, indefinite quantity contract by the United States Agency for International Development to support infrastructure activities for the agency’s Bureau for Development, Democracy and Innovation.

PAE is one of seven large business contractors awarded a seat on the contract vehicle that also includes six small business awardees. PAE will compete for task orders to provide services that include infrastructure planning, engineering design, construction supervision and related support on projects across the globe.

PAE Interim President and CEO Charlie Peiffer said the company’s demonstrated expertise delivering services supporting global infrastructure initiatives makes its team a valued partner on the contract.

“PAE is ready to advance USAID’s Mission Strategic Objectives by providing technical expertise and design and construction services in host countries,” Peiffer said. “We believe our innovative solutions will deliver impactful support for the agency’s most critical infrastructure needs.”

Forthcoming task orders are expected to span a wide range of infrastructure services under the technical areas of water and sanitation, environment, transportation, energy, telecommunications and vertical structures and exterior public space.

About the USAID Bureau for Development, Democracy and Innovation
The Bureau for Development, Democracy and Innovation is USAID’s central resource for providing world-class technical assistance to its Missions. DDI’s cross-cutting, global perspective is intended to enable the agency to anticipate and respond to evolving trends and issues, catalyze innovation and financing and broaden our partnership base, all with the goal of sustainably meeting USAID’s development and humanitarian goals.

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, risks related to IDIQ contracts, strategy for and management of growth, needs for additional capital, risks related to U.S. government contracting generally, including congressional approval of appropriations, and risks related to foreign operations. 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 contract did PAE secure in August 2021?

PAE secured a seven-year, $800 million contract with USAID for Global Architect-Engineer Services III.

What services will PAE provide under the USAID contract?

PAE will provide services such as infrastructure planning, engineering design, and construction supervision.

How many large contractors were awarded the USAID contract?

Seven large contractors were awarded positions on the USAID contract.

What is PAE's stock symbol?

PAE operates under the stock symbols PAE and PAEWW.