Parsons Working with U.S. Navy to Rebuild China Lake
Parsons Corporation (NYSE: PSN) has secured a four-year, $37 million contract from Naval Facilities Engineering Command Southwest to assist in rebuilding efforts at Naval Air Weapons Station China Lake.
Sentiment and the balance of points
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Rhea-AI Summary
Parsons Corporation (NYSE: PSN) has secured a four-year, $37 million contract from Naval Facilities Engineering Command Southwest to assist in rebuilding efforts at Naval Air Weapons Station China Lake. This award is part of a broader $2.5 billion earthquake recovery program following a 7.1 magnitude earthquake in July 2019. Parsons will provide essential programmatic, technical, risk, and build management services. This contract underscores Parsons' expertise in partnering with the Department of Defense on complex projects.
Positive
- Awarded a new contract worth $37 million, enhancing revenue prospects.
- Contributes to the $2.5 billion earthquake recovery initiative, indicating long-term partnership potential with the Department of Defense.
Negative
- None.
Details
News Market Reaction – PSN
The recorded move for PSN in the trading session of this news was +1.53%.
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CENTREVILLE, Va., Dec. 3, 2020 /PRNewswire/ -- Parsons Corporation (NYSE: PSN) was awarded a four-year,
The company will provide programmatic, technical, risk, and build management services in support of ongoing earthquake recovery efforts, which are part of the NAVFAC's
"Parsons has a long and successful history of partnering with the Department of Defense on large, complex programs," said Chris Alexander, Parsons' executive vice president, and engineered systems market leader. "We look forward to providing NAVFAC with the full range of professional services oversight necessary to rebuild China Lake."
China Lake was struck by a 7.1 magnitude earthquake in July 2019, which caused operations to be sustained at a reduced capacity until earthquake recovery efforts such as construction and repairs are completed.
To learn more about Parsons federal infrastructure capabilities, please visit: https://www.parsons.com/capabilities/engineered-systems/
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, connected infrastructure, and smart cities. Please visit parsons.com, and follow us on LinkedIn and Facebook to learn how we're making an impact.
Media Contact:
Bryce McDevitt
+ 1 703.851.4425
bryce.mcdevitt@parsons.com
Investor Relations Contact:
Dave Spille
+ 1 571.655.8264
dave.spille@parsons.com
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SOURCE Parsons Corporation
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