PAE Teams with Alion to Support Navy Training Initiative on $896M Seaport-NxG Task Order  

Rhea-AI Summary

PAE (NASDAQ: PAE, PAEWW) has entered a teaming agreement with Alion Science and Technology for a task order worth up to $896 million, supporting the U.S. Navy's Integrated Training Environment initiative. This program aims to enhance combat readiness through a multi-domain training platform across various locations. The agreement continues PAE's 35-year commitment to Navy training missions and allows for an expansion of their support across additional sites. The contract includes a base year with options for extension over four additional years.

Positive

• Secured a significant task order with Alion worth up to $896 million.
• Strengthens PAE's long-standing relationship with the U.S. Navy, enhancing training capabilities.
• Opportunity for expansion into additional training sites, increasing operational scope.

Negative

• None.

FALLS CHURCH, Va., Aug. 24, 2020 (GLOBE NEWSWIRE) -- PAE (NASDAQ: PAE, PAEWW), a global leader in delivering smart solutions to the U.S. government and its allies, has entered into a teaming agreement with Alion Science and Technology (prime contractor) on a task order supporting the U.S. Navy’s Integrated Training Environment initiative, which modernizes training for combat readiness. The total value of the Alion task order is $896 million if all options are exercised.

The primary purpose of the initiative is to provide an integrated program that will enable a continuous, multi-domain, live, virtual and constructive training platform across multiple physical locations throughout the Navy training enterprise. The award to Alion will integrate two training ranges, including the Southern California Off-Shore Range, into NITE. That training environment connects participants throughout the U.S. and in partner countries to live and virtual instruction. The task order includes a base year that may be extended through four one-year options.

“The expertise PAE has developed supporting SCORE training missions over more than three decades makes us a strong, strategic partner with Alion in support of NITE,” said PAE President and CEO John Heller. “The Navy understands our capability to adapt to their needs, including the evolution of this innovative training program.”

The agreement with Alion will extend PAE’s continuous 35-year history supporting SCORE, a multi-warfare training range for the Navy, as well as the U.S. Marine Corps, Air Force, Department of Homeland Security, foreign allies, local law enforcement, cybersecurity and network operations personnel. In addition to maintaining ongoing support for SCORE, as part of the Alion team, PAE will increase its scope and value by bringing in additional sites throughout the Navy tactical training continuum into the new instruction environment.

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 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 and teaming agreements 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 PAE's new task order with Alion Science and Technology?

The task order is valued at up to $896 million if all options are exercised.

How long is the contract duration for the task order awarded to PAE?

The contract includes a base year that can be extended through four one-year options.

What initiative is PAE supporting with the new task order?

PAE is supporting the U.S. Navy’s Integrated Training Environment initiative.

What is the primary goal of the U.S. Navy's Integrated Training Environment initiative?

The initiative aims to modernize training for combat readiness through an integrated training platform.

How does PAE's history contribute to its new agreement with Alion?

PAE has over 35 years of experience supporting Navy training missions, enhancing its strategic partnership.