DRS Receives an Omnibus III Contract from the U.S. Army Worth up to $150 M to Provide Logistics, Programmatic and Technical Services
(Parsippany, N.J., January 10, 2008) -- DRS Technologies, Inc. (NYSE: DRS) announced today that it received an Omnibus III contract from the U.S. Army's Program Executive Office for Combat Support & Combat Service Support (PEO CS&CSS) in Warren, Michigan. The contract is worth up to $150 million during the next five years.
This marks the third Omnibus contract awarded to DRS by PEO CS&CSS. In January 1997 the PEO named DRS to its list of companies for the Omnibus I contract, and in January 2003, it was selected for an Omnibus II contract. Under the Omnibus III contract DRS will provide logistics, programmatic and technical services for the PEO.
The work for all orders under this contract will be executed by the company's DRS Technical Services business unit in Herndon, Virginia and the land systems division of the unit's engineering and logistics line of business.
"Although PEO CS&CSS will be the primary user of the contract, every organization within the Army's Tank-Automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) will be able to use DRS to accomplish a wide variety of important tasks and objectives," said Dr. Mitchell B. Rambler, president of DRS' Technical Services business segment. "The DRS-led team is composed of 25 unique companies which have been selected to ensure that the TACOM LCMC has the most proficient and specialized personnel and capabilities available to them at a moment's notice."
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