Welcome to our dedicated page for Parsons Corporation news (Ticker: PSN), a resource for investors and traders seeking the latest updates and insights on Parsons Corporation stock.
Parsons Corporation (NYSE: PSN) is a pioneering company in the fields of engineering, construction, technical, and management services. Founded in 1944, Parsons has grown to become a leader in delivering innovative, technology-driven solutions across a variety of markets, including defense, intelligence, and critical infrastructure.
With a strong workforce of over 15,000 employees, Parsons engages in nearly 5,000 projects across 29 countries. These projects span multiple sectors and involve complex logistical challenges. The company's core services include design/build, program and construction management, and professional services tailored to meet the needs of both private industrial clients and government entities at the federal, regional, and local levels.
One of Parsons' significant achievements is obtaining a $28 million contract from the U.S. Air Force Research Laboratory for the development of intelligence, surveillance, and reconnaissance software. This contract extends Parsons' portfolio in supporting the Department of Defense and the Intelligence Community. The company is also renowned for its ZEUS® directed energy system, which has been deployed in Iraq and Afghanistan for neutralizing threats and enhancing operational safety.
Parsons is structured into two primary business segments: Federal Solutions and Critical Infrastructure. The Federal Solutions segment focuses on high-end services and technology for mission-critical projects for the U.S. government. The Critical Infrastructure segment offers integrated design and engineering services for intricate physical and digital infrastructure globally.
Additionally, Parsons has been selected as one of 15 lead consultants for the Los Angeles World Airports' (LAWA) Capital Improvement Program, a contract valued at nearly $1 billion over five years. This initiative is part of LAWA's broader inclusivity and modernization efforts.
Parsons' commitment to innovation and excellence is further exemplified by its collaborative projects like the Peak-Time Payback program for battery storage-based demand response in Texas, in partnership with Enphase Energy and GVEC. This project is aimed at enhancing the resilience and sustainability of the Texas electrical grid.
To stay updated on Parsons' latest developments and projects, visit their official website at parsons.com and follow their updates on LinkedIn and Facebook.
Parsons Corporation (NYSE: PSN) announced the addition of 20 Ford Lightning electric trucks to support Chemours in North Carolina. These trucks will enhance service efficiency, contributing to the collection of residential drinking water samples. Over the last two years, Parsons' employees have driven 2.5 million miles for Chemours. The new fleet, combined with in-house charging station design and installation, reflects a commitment to sustainability and reducing environmental impact. Chemours has also invested in smart fleet management software to optimize routes, further cutting emissions and improving safety. As a result of these initiatives, estimated annual client savings reach nearly $250,000 due to reduced fuel costs and clean power negotiations.
Parsons Corporation (NYSE: PSN) has been selected by the Missouri Department of Transportation (MoDOT) as part of the design-build team for the Bi-State Chester Bridge project. This project aims to replace an outdated truss bridge over the Mississippi River between Perryville, MO and Chester, IL. Parsons will act as the lead designer, providing a 4-span, 3-tower cable stay bridge design that enhances navigation safety.
Mark Fialkowski, president of Parsons' mobility solutions unit, emphasized the company's commitment to improving safety and mobility through innovative infrastructure solutions. The bridge will focus on constructability and resilience, featuring dual navigation openings and is strategically located near a regional airport.
Parsons Corporation (NYSE: PSN) is showcasing its innovative capabilities at the 38th Space Symposium in Colorado Springs from April 17-20, 2023. The company has a long-standing history of providing operationally proven capabilities in the space domain, serving over 200 government and commercial clients. Notably, Parsons supports 50% of Department of Defense satellites and 75% of NASA and NOAA satellites. Key offerings include the Parsons Space Operations Center, which provides Ground Operations Center as a Service (GOCaaS), reducing government investment needs. Parsons also excels in satellite integration and artificial intelligence applications for enhanced decision-making. The company is poised to tackle space access complexities and aims to deliver affordable, customized mission solutions.
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