CENTREVILLE, Va., Feb. 21, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a position on a $49 million indefinite-delivery multiple award contract by the United States Army Corps of Engineers (USACE) Mobile District South Atlantic Division. The five-year contract includes construction management services in support of Military Construction, Civil Works, and Interagency and International Support construction projects executed by the Mobile District.
“Parsons has an extensive history of helping federal government agencies meet their facility and infrastructure program needs,” said Jon Moretta, president, Engineered Systems, for Parsons. “We’re proud to be a trusted partner of the USACE and to continue leveraging our expertise and resources in support of the Mobile District South Atlantic Division’s mission to advance infrastructure projects that contribute to our nation’s economy, environment, safety, and quality of life.”
Mobile is one of five districts in the USACE South Atlantic Division. The division is one of eight overseeing military and water-resources design, construction, and operation in eight southeast states, the Caribbean, and Central and South America. Serving major Army posts and Air Force bases, the South Atlantic Division builds barracks, hospitals, office buildings, and other facilities to meet military needs. Under this contract, Parsons will compete for task orders to provide construction management services at various military, Federal, and other installations within the Mobile District’s area of responsibility.
For over 75 years, Parsons has guided federal government agencies through planning, design, construction, and post-construction challenges on complex, multi-site, multi-phase programs. This award expands on that history and is Parsons’ fourth consecutive five-year construction management contract with the Mobile District. Through these contracts, Parsons has executed over 40 task orders supporting more than 70 projects with a combined construction value exceeding $2 billion.
To learn more about Parsons’ federal infrastructure solutions, visit Parsons.com/markets/federal-infrastructure/.
About Parsons:
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure solutions. 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:
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