PAE Expands National Security Scope with DTRA Task Order Under CTRIC Program

Rhea-AI Summary

PAE has secured a task order from the U.S. Defense Threat Reduction Agency with a potential value exceeding $16.6 million over three years. This award reinforces PAE's expertise in counterproliferation, with plans to deliver up to 47 training events per year focused on dismantling weapons of mass destruction smuggling networks. The company has a 12-year history of collaboration with DTRA and aims to enhance global maritime security through the International Counterproliferation Program and Proliferation Security Initiative.

Positive

• Awarded task order valued at over $16.6 million.
• Continues a 12-year partnership with DTRA.
• Plans to deliver up to 47 training events annually.

Negative

• None.

FALLS CHURCH, Va., June 05, 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 task order by the U.S. Defense Threat Reduction Agency under the Cooperative Threat Reduction Integration Contract III to support the International Counterproliferation Program and Proliferation Security Initiative. The new business award has a potential value of more than $16.6 million over three years.

PAE President and CEO John Heller said the award recognizes the PAE Counter-Threat Solutions team’s wide-ranging subject matter expertise and training capabilities.

“DTRA has relied on PAE to support their critical missions with counterproliferation, capacity-building, training and international logistics over the past 12 years,” Heller said. “As we expand our business through new relationships with ICP and PSI, we’ll be sharing our specialized knowledge base through training essential to U.S. national security worldwide.”

“PAE is honored to be selected to continue our record of exceptional service to DTRA by supporting the ICP and PSI missions,” said PAE Vice President of Counter-Threat Solutions Will Todd. “Members of my team look forward to applying their unique skillset to advancing U.S. counterproliferation and maritime security initiatives around the globe.”

PAE will support up to 47 training events and workshops per year, including the development and delivery of curricula and course materials on a variety of specialized national security topics, focusing on enabling the disruption of weapons of mass destruction smuggling networks and pathways. After the base year, the task order may be extended through two one-year options.

ICP and PSI aim to strengthen partner nations’ response to weapons of mass destruction proliferation and threat networks. ICP is a Department of Defense-led interagency program authorized to work in 88 countries alongside the Federal Bureau of Investigation and Department of Homeland Security. PSI is a global effort that aims to stop trafficking of weapons of mass destruction, their delivery systems, and related materials to and from states and non-state actors of proliferation concern. DTRA supports PSI by designing, planning and executing international PSI activities encompassing 107 endorsing countries worldwide. 

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 more than 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 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 task order awarded to PAE by DTRA?

The task order has a potential value of over $16.6 million.

How many training events will PAE conduct under the new task order?

PAE will support up to 47 training events and workshops per year.

What program does the task order pertain to?

The task order supports the International Counterproliferation Program and Proliferation Security Initiative.

What is PAE's history with DTRA?

PAE has collaborated with DTRA for over 12 years on counterproliferation missions.

What is the purpose of the training provided by PAE?

The training aims to disrupt weapons of mass destruction smuggling networks.