Parsons Wins Seat on $95 Million Global NAVFAC Contract to Plan US Navy Infrastructure

Rhea-AI Summary

Parsons Corporation (NYSE: PSN) has secured a $95 million indefinite-delivery, indefinite-quantity contract from NAVFAC Atlantic. This contract includes a base year followed by four optional years and focuses on multi-discipline architect-engineer services for Navy and Marine Corps projects. Key tasks include master planning, military construction documentation, and sustainability studies. Jon Moretta, president of Engineered Systems, emphasized the company's commitment to providing innovative solutions for federal projects, aiding in improving resilience and efficiency.

Positive

• Awarded a $95 million contract, enhancing revenue prospects.
• Contract includes a base year and four optional years, ensuring long-term engagement.
• Parsons is one of five selected contractors, boosting its reputation in federal services.

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• None.

CENTREVILLE, Va., Dec. 15, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a position on a $95 million indefinite-delivery, indefinite-quantity multiple award contract by Naval Facilities Engineering Systems Command (NAVFAC) Atlantic. The task order contract includes a base period of one year and four one-year option periods and represents new work for the company.

“Supporting NAVFAC’s mission to deliver best value facilities engineering and acquisition for the Navy, Marine Corps, Unified Commanders, and Department of Defense agencies is a core capability for Parsons,” said Jon Moretta, president, Engineered Systems, for Parsons. “We are excited to work alongside NAVFAC Atlantic and leverage our multidisciplinary expertise across master planning, sustainability, and climate change studies to deliver results for the NAVFAC and the entire Department of Defense.”

Parsons is one of five IDIQ contractors to provide multi-discipline architect-engineer services for preparation of Navy and Marine Corps Planning and Engineering Services on projects located primarily on the West Coast, Midwest, and Alaska. The contract will focus on master planning services such as global shore infrastructure plans, regional integration plans, and installation development plans. In addition, Parsons will provide engineering services including military construction documentation, asset evaluations, basic facilities requirements development, and special studies such as sustainability and climate change plans.

Parsons is a global leader in critical infrastructure excellence, committed to using innovation to drive the greatest value for our federal projects. The company has more than 75 years of experience in providing solutions and services to federal agencies, including improving sustainability, efficiency, and resiliency of federal infrastructure through technology-driven solutions.

To learn more about Parsons’ federal infrastructure capabilities, visit Parsons.com/federal-infrastructure/.

About Parsons
Parsons (NYSE: PSN) is a leading disruptive technology provider in the global defense, intelligence, and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, C5ISR, transportation, environmental remediation, and water/wastewater treatment. Our solutions around the globe help make the world safer, healthier, and more connected Please visit parsons.com, and follow us on LinkedIn and Facebook to learn how we’re making an impact.

Media Contact:                                        
Bernadette Miller
+1 980.253.9781
Bernadette.Miller@Parsons.com

Investor Relations Contact:
Dave Spille
+ 1 703.775.6191
Dave.Spille@parsons.com

FAQ

What is the value of the contract awarded to Parsons Corporation?

Parsons Corporation was awarded a $95 million contract by NAVFAC Atlantic.

What is the duration of the contract awarded to Parsons?

The contract includes a base period of one year and four one-year option periods.

What services will Parsons provide under the NAVFAC contract?

Parsons will provide architect-engineer services, including master planning and sustainability studies.

When was the contract awarded to Parsons Corporation?

The contract was announced on December 15, 2022.

Which department is Parsons assisting with the new contract?

Parsons is assisting the Naval Facilities Engineering Systems Command (NAVFAC) Atlantic.