Vectrus Wins Contract to Support U.S. Navy's Aegis Ashore Missile Defense Facility in Romania
COLORADO SPRINGS, Colo., May 15, 2020 /PRNewswire/ -- Vectrus Systems Corporation, a wholly-owned subsidiary of Vectrus, Inc. (NYSE: VEC), announced today that it was awarded a new $45 million fixed-price contract to provide base operations support services at Naval Support Facility Deveselu, Romania. The contract extends through May 2028, including all option periods. This award further expands Vectrus' footprint in Eastern Europe and increases the company's overall position in Europe to eight countries.
"We are proud to have been selected by the U.S. Navy as the converged infrastructure provider of choice to support this strategically important facility," said Chuck Prow, president and chief executive officer of Vectrus. "Deveselu is the first Aegis Ashore Missile Defense Facility that was placed into operation and provides critical support to NATO's overall ballistic missile defense system."
Under the contract, Vectrus will provide various base operations support services, including fire and emergency services, emergency management, materials management, supply services, facility management, facility investment, custodial, utility management, electrical, wastewater, water, transportation services, and environmental services.
"The Deveselu award is our third new contract win with the Navy in 2020 and typifies how our customized growth campaigns, which leverage our exemplary program execution, are expanding our base and adding value," said Prow. "Our revenue base with the Navy grew 45 percent in 2019 as a direct result of our targeted campaign with this important client."
Prow concluded, "This award's contract structure demonstrates how Vectrus plans to increase the fixed price component of our revenue mix, allowing us to apply our program phase-in process discipline and technology enhancements to ultimately lead to higher margin and better client outcomes. We are honored to be a part of such an important mission and look forward to supporting our client with exceptional performance."
For information on carer opportunities associated with Deveselu as well as other Vectrus programs, please visit www.vectrus.com/careers.
Mike Smith, CFA
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SOURCE Vectrus, Inc.