ENGlobal Wins Prime Spot on $124 Million Automated Fuels Handling Contract
Houston, June 13, 2019 (GLOBE NEWSWIRE) -- ENGlobal (NASDAQ: ENG), a leading provider of engineered modular solutions, today announced that its wholly-owned subsidiary, ENGlobal Government Services, Inc. (EGS), has won one of three prime contractor spots on a U.S. Military $124 million Automated Fuel Handling Equipment multiple-award, indefinite-delivery, indefinite-quantity contract.
As part of its participation in this contract, EGS will compete for task orders to support the Defense Logistics Agency’s Automated Fuel Handling Program, which provides the fuel monitoring and control systems capabilities that strengthen the mission of all military services. These task orders will include technology upgrades and refreshes of existing systems, new system design and installation, and life cycle maintenance of new and existing systems.
This contract has a five-year period of performance, and its work will be conducted around the world. It follows a previous five year U.S. Military contract covering similar projects of which ENG received task orders of approximately $52 million. Only awarded task orders are included in ENG’s backlog.
Commenting on the new award, ENGlobal Chairman and CEO William A. Coskey, P.E., said, “We are extremely proud to have been selected to support our military with innovative and cutting edge fuel handling technology. For over fifteen years, ENGlobal has been honored to provide wide-ranging global solutions for our Military’s fueling requirements, and through this new selection, we look forward to providing these services for many years to come."
ENGlobal Government Services specializes in the turn-key installation and maintenance of automation and instrumentation systems for the U.S. defense industry worldwide.
About ENGlobal
ENGlobal (ENG) is a leading provider of engineered modular solutions to the energy sector throughout the United States and internationally. ENGlobal operates through two business segments: Automation and Engineering. ENGlobal's Automation segment provides services related to the design, integration and implementation of process distributed control and analyzer systems, advanced automated data gathering systems and information technology. Within the Automation segment, ENGlobal's Government Services group provides engineering, design, installation and operation and maintenance of various government, public sector and international facilities, and specializes in the turnkey installation and maintenance of automation and instrumentation systems for the U.S. Defense industry worldwide. The Engineering segment provides multi-disciplined engineering services relating to the development, management and execution of projects requiring professional engineering and related project management services. Further information about the Company and its businesses is available at .
Safe Harbor for Forward-Looking Statements
The statements above regarding the Company's expectations regarding its operations and certain other matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws and are subject to risks and uncertainties, including the timing, amount and scope of any awarded task order and the amount of pending proposals and backlog. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in ENGlobal's filings with the Securities and Exchange Commission. In addition, reference is hereby made to cautionary statements set forth in the Company's most recent reports on Form 10-K and 10-Q, and other SEC filings.
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