Parsons Corporation (NYSE:PSN) announced on Friday that it has secured a task order valued at over $100 million from Nammo to provide design and program/construction management services for a new rocket motor facility in Perry, Florida.
Details
The two-year project supports the Department of War’s Acquisition Transformation Strategy by increasing U.S. munitions production, enhancing supply chain resilience, and accelerating the delivery of critical capabilities.
Notably, Nammo’s Perry site is a center of excellence for munitions and pyrotechnics, supplying energetic systems to the Department of War.
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The groundbreaking in October marked a key step in expanding the U.S. munitions industrial base.
Jon Moretta, president, Engineered Systems for Parsons, said, “As the Department of War revitalizes the Defense Industrial Base, we are proud to leverage our technical design, engineering, and PM/CM expertise to accelerate production and strengthen supply chain resilience. By delivering increased capacity at the speed of combat, we ensure the warfighter has what they need when they need it.”
U.S. Air Force Contract
The company has been on a winning streak of contract wins. This week, Parsons secured a seat on the U.S. Air Force Comprehensive Construction & Engineering MATOC.
The contract, managed by the Air Force Civil Engineering Center (AFCEC), has a $15 billion ceiling and supports the readiness and resilience of Air Force and Department of War facilities worldwide.
Additionally, the firm secured an $88 million single-award task order to support base air defense systems at the U.S. Air Forces in Europe – Air Forces Africa (USAFE-AFAFRICA) at Ramstein Air Base in Germany.
PSN Price Action: Parsons shares were up 1.17% at $61.26 during premarket trading on Friday, according to Benzinga Pro data.
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