U.S. Army Corps of Engineers Awards Tetra Tech $200 Million Contract for Architect-Engineer Services

Rhea-AI Summary

Tetra Tech, Inc. (NASDAQ: TTEK) has secured a $200 million multiple-award contract from the U.S. Army Corps of Engineers, Far East District to provide architect-engineer (A-E) services in the Republic of Korea. This five-year contract involves site investigations, engineering design document preparation, and program management for U.S. military support in the Pacific region. Tetra Tech plans to incorporate Leadership in Energy and Environmental Design (LEED) practices into the projects. The relationship with the U.S. Army Corps of Engineers spans nearly 50 years, indicating a strong partnership.

Positive

• Secured a $200 million contract with the U.S. Army Corps of Engineers.
• Established a long-term relationship with the U.S. Army Corps of Engineers lasting almost 50 years.
• Opportunity to provide sustainable solutions through LEED practices.

Negative

• None.

PASADENA, Calif.--(BUSINESS WIRE)-- Tetra Tech, Inc. (NASDAQ: TTEK) announced today that the U.S. Army Corps of Engineers, Far East District, selected Tetra Tech for a $200 million, multiple-award contract to provide architect-engineer (A-E) services throughout the Republic of Korea.

Under this five-year contract, Tetra Tech will provide A-E technical services in support of the U.S. Army, Air Force, and other federal agencies. Tetra Tech will conduct site investigations, prepare engineering design documents, and perform program management services to support the U.S. government’s ongoing mission in the Pacific region. Tetra Tech will incorporate Leadership in Energy and Environmental Design (LEED) and other sustainability elements into the design of new and renovated buildings and infrastructure, including water, sanitation, and electrical utilities.

“The U.S. Army Corps of Engineers has been a valued client for almost 50 years,” said Dan Batrack, Tetra Tech Chairman and CEO. “We look forward to using our Leading with Science^® approach to support to the Far East District in its mission to deliver state-of-the-art engineering solutions on the Korean peninsula.”

About Tetra Tech

Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 27,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, sustainable infrastructure, renewable energy, and international development. We are Leading with Science^® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com or follow us on LinkedIn, Twitter, and Facebook.

Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company’s Form 10-K and Form 10-Q filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230213005661/en/

Jim Wu, Investor Relations

Charlie MacPherson, Media & Public Relations

(626) 470-2844

Source: Tetra Tech, Inc.

FAQ

What is the value of Tetra Tech's new contract with the U.S. Army Corps of Engineers?

The contract is valued at $200 million.

How long is the contract awarded to Tetra Tech?

The contract has a duration of five years.

What services will Tetra Tech provide in Korea under the new contract?

Tetra Tech will provide architect-engineer (A-E) services including site investigations and engineering design.

What sustainable practices will Tetra Tech implement in their projects?

Tetra Tech plans to incorporate Leadership in Energy and Environmental Design (LEED) practices.

Which federal agencies are involved in the contract with Tetra Tech?

The contract supports the U.S. Army, Air Force, and other federal agencies.