PAE Awarded U.S. Navy Contract to Support Systems Maintenance, Testing and Installation at U.S. Marine Corps Air Station Iwakuni, Japan

Rhea-AI Summary

PAE has been awarded a contract by the Naval Facilities Engineering Command Far East to provide HVAC services at U.S. Marine Corps Air Station Iwakuni in Japan. The agreement has a total estimated value of $25.1 million, with a one-year base period and three additional one-year options. This contract underscores PAE's robust engineering capabilities and its historical presence in Japan, where it has provided critical services for 65 years. The company will manage all aspects of HVAC maintenance, testing, and installation for facilities at the air station.

Positive

• Awarded a $25.1 million HVAC contract with a one-year base period and three option years.
• Strengthens PAE's engineering reputation in Japan, continuing a 65-year legacy of service.

Negative

• None.

FALLS CHURCH, Va., June 17, 2020 (GLOBE NEWSWIRE) -- PAE (NASDAQ: PAE, PAEWW), a global leader in delivering smart solutions to the U.S. government and its allies, was awarded a Naval Facilities Engineering Command Far East contract to provide heating, ventilation and air conditioning systems maintenance, testing and installation services at U.S. Marine Corps Air Station Iwakuni, Japan. The contract has a one-year base period of performance with three one-year options and an estimated total value of approximately $25.1 million.

PAE President and CEO John Heller said the award highlights PAE’s long-respected engineering and operations maintenance capabilities supporting U.S. projects in Japan.

“PAE started 65 years ago by providing the U.S. government critical services to rebuild Japan and other parts of Asia after World War II,” Heller said. “That legacy of dependable service continues today as we support the Navy at the air station in Iwakuni.”

The HVAC maintenance contract builds on major projects the PAE Design and Facility Management entity in Japan has supported as Air Station Iwakuni expanded over the past decade. Significant projects include the design of a 131,000-square-foot medical clinic, which opened in 2018, and a flight training facility, now under construction.

“The skilled team leading this effort has decades of combined experience managing design, construction, maintenance and repair programs in Japan,” said PDFM President Scott Gold. “By understanding both the technical aspects of the work and local operational and business standards, we will continue to provide the effective solutions on which PAE has built its reputation in Japan.”

On this new business contract, PAE will provide all labor, management, materials, equipment, facilities, transportation and engineering to perform HVAC system maintenance, testing and installation services for all facilities at Air Station Iwakuni.

About PAE
For 65 years, PAE has tackled the world’s toughest challenges to deliver agile and steadfast solutions to the U.S. government and its allies. 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 and bid protests. 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 new HVAC contract awarded to PAE?

The new HVAC contract awarded to PAE is valued at approximately $25.1 million.

How long is the contract period for PAE's new HVAC services at Iwakuni?

The contract includes a one-year base period with three additional one-year options.

What services will PAE provide under the new contract at U.S. Marine Corps Air Station Iwakuni?

PAE will provide HVAC maintenance, testing, and installation services.

What does the new contract signify for PAE's operations in Japan?

The contract highlights PAE's long-established engineering and operations capabilities supporting U.S. projects in Japan.