Vectrus Awarded Two AFCAP V Task Orders Valued at $40 Million

Rhea-AI Summary

Vectrus, Inc. (NYSE: VEC) announced the award of two firm-fixed-price task orders valued at $40 million to support the U.S. Air Force. These orders are part of the Air Force Contract Augmentation Program V (AFCAP V), a $6.4 billion IDIQ contract aimed at providing various support services. CEO Chuck Prow emphasized that these wins highlight Vectrus' capability in meeting critical mission requirements, reflecting confidence from the Air Force in their logistical and support services.

Positive

• Awarded two task orders valued at $40 million.
• Contracts strengthen relationship with the U.S. Air Force.
• Demonstrates Vectrus' ability to support contingency and humanitarian needs.

Negative

• None.

COLORADO SPRINGS, Colo., July 15, 2021 /PRNewswire/ -- Vectrus, Inc., (NYSE: VEC), a leading global government services company, announced that it was awarded two new firm-fixed-price task orders valued at $40 million to provide installation and other support services to the U.S. Air Force. The task orders were awarded under the Air Force Contract Augmentation Program V, or AFCAP V, which is a $6.4 billion IDIQ contract vehicle that provides contingency planning, deploying, training, and equipping of forces; emergency and contingency construction; and logistics and commodities and services.

"Our work supporting the Air Force's most critical mission requirements is strengthened with two new wins under the AFCAP V IDIQ contract," said Chuck Prow, president and chief executive officer of Vectrus. "These recent wins build on our AFCAP wins that were announced in the first quarter and demonstrate Vectrus' ability to support our clients contingency and humanitarian support requirements with a full range of facilities and logistical services across the globe. We are pleased in the Air Force's confidence with Vectrus to support their critical missions and look forward to building on our exemplary service and track record of growth with this important client."  

About Vectrus
For more than 70 years, Vectrus has provided critical mission support for our customers' toughest operational challenges. As a high-performing organization with exceptional talent, deep domain knowledge, a history of long-term customer relationships, and groundbreaking technical expertise, we deliver innovative, mission-matched solutions for our military and government customers worldwide. Whether it's base operations support, supply chain and logistics, IT mission support, engineering and digital integration, security, or maintenance, repair, and overhaul, our customers count on us for on-target solutions that increase efficiency, reduce costs, improve readiness, and strengthen national security. Vectrus is headquartered in Colorado Springs, Colo., and includes about 9,200 employees spanning 206 locations in 27 countries. In 2020, Vectrus generated sales of $1.4 billion. For more information, visit the company's website at www.vectrus.com or connect with Vectrus on Facebook, Twitter, and LinkedIn.

Contact Information

Mike Smith, CFA
michael.smith@vectrus.com
(719) 637-5773

 

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SOURCE Vectrus, Inc.

FAQ

What is the value of the task orders awarded to Vectrus on July 15, 2021?

Vectrus was awarded two task orders valued at $40 million.

What program are the new task orders awarded to Vectrus associated with?

The task orders are associated with the Air Force Contract Augmentation Program V (AFCAP V).

How much is the AFCAP V contract worth?

The AFCAP V contract is valued at $6.4 billion.

Who is the CEO of Vectrus and what did he say about the new contracts?

Chuck Prow is the CEO of Vectrus. He stated that the new wins strengthen their support for critical mission requirements.

When was the press release about Vectrus' new task orders published?

The press release was published on July 15, 2021.