CENTREVILLE, Va., July 19, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today an award on the Repairs, Operations, Maintenance, and Engineering (ROME) contract team by the National Aeronautics and Space Administration (NASA), to which it is a major subcontractor. Arctic Slope Regional Corporation (ASRC) Federal Facilities Logistics, LLC will provide services at multiple NASA facilities through this indefinite-delivery, indefinite-quantity (IDIQ) contract with a maximum ordering value of $320 million over five years. Parsons will provide facilities construction management and engineering and technical services in support of ASRC’s IDIQ contract with NASA with an estimated value of up to $130 million.
“Parsons has been a trusted partner to NASA for nearly three decades,” said Jon Moretta, president, Engineered Systems, for Parsons. “We remain committed to our work with NASA as a member of the ASRC team and will continue supporting the agency’s mission of pioneering the future in space exploration, scientific discovery, and aeronautics research by leveraging our global infrastructure, engineering, and technical expertise.”
NASA facilities included in the contract are the Goddard Space Flight Center in Greenbelt, Maryland; the Wallops Flight Facility, including U.S. Naval operations, on Wallops Island, Virginia; and all Goddard associated facilities. Goddard is home to the nation’s largest organization of scientists, engineers, and technologists who build spacecraft, instruments, and new technology to study the Earth, Sun, solar system, and universe. Wallops provides agile, low-cost flight and launch range services to meet government and commercial sector needs for accessing flight regimes worldwide from the Earth’s surface to the moon and beyond.
ASRC Federal Facilities Logistics will provide operations and maintenance, architect engineering, construction, and facilities information resources services under the contract. As a subcontractor, Parsons will continue to provide elements of the Facilities, Construction, Engineering, and Technical Services (FaCETS) III contract, which the company was awarded in 2017 for engineering, infrastructure, information technology, and program management services at Goddard. New work for Parsons includes a similar scope at Wallops. Parsons’ partnership with NASA began in 1995 and has continued through three FaCETS contracts and now the ROME contract.
Parsons is a global leader in delivering innovative infrastructure solutions to federal customers that advance mission needs. The company’s deep domain expertise is complimented by a team of planners, engineers, scientists, and construction management professionals who are committed to using innovation and technology-driven solutions to drive the greatest value for federal projects.
To learn more about Parsons’ federal infrastructure solutions, visit Parsons.com/infrastructure-capabilities/.
About Parsons:
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn and Facebook to learn how we're making an impact.
Forward-Looking Statements:
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Registration Statement on Form S-1 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this presentation that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so in connection with our ongoing requirements under federal securities laws.
Media Contact:
Jonathan Larry
+1 706.832.7330
jonathan.larry@parsons.com
Investor Relations Contact:
Dave Spille
+1 703.775.6191
Dave.Spille@parsons.com
