Parsons Secures $4 Billion IDIQ Contract for Defense Initiatives
Parsons Corporation's Latest Achievement in National Security
Parsons Corporation (NYSE: PSN) has achieved a significant milestone by securing a position on a lucrative indefinite-delivery, indefinite-quantity (IDIQ) multiple award task order contract (MATOC) from the Defense Threat Reduction Agency (DTRA). This prestigious contract, valued at $4 billion, is directed towards enhancing defense efforts against weapons of mass destruction (WMD).
Details of the Contract Award
The awarded contract comprises a five-year base period complemented by an additional five-year option period. This contract not only marks a substantial financial opportunity for Parsons but is also recognized as a new venture, allowing the company to further expand its impact in the defense sector.
Scope and Objectives
Under this IDIQ MATOC, Parsons is set to compete for various task orders. The tasks will focus on research, development, testing and evaluation, procurement, maintenance, and systems engineering. These efforts are designed to provide comprehensive scientific and technological solutions in alignment with the Department of Defense's key CWMD objectives.
Parsons' Commitment to Security Solutions
Jon Moretta, President of Engineered Systems at Parsons, emphasized the organization’s strong capabilities in supporting national security. He stated, “We have proven technical capabilities that enable efforts by the United States and partner nations to effectively counter and deter global threats.” This contract allows Parsons to leverage its strengths in delivering global security solutions and advancing DTRA’s mission.
Building on a Legacy of Support
This contract underlines Parsons’ longstanding relationship with DTRA, showcasing decades of commitment to various global security projects. The company has previously engaged in efforts addressing the destruction of chemical weapons and strategic arms, ensuring nuclear security, and supporting non-proliferation initiatives.
Previous Collaborations and Future Directions
In a notable development in the past year, Parsons announced two task order awards under DTRA's Assessment, Exercise, Modeling and Simulation, and Support (AEMSS) IDIQ MATOC. These task orders aim to bolster partner nations' capabilities in preventing proliferation attempts, while also providing vulnerability assessments and technical support to enhance overall mission effectiveness.
DTRA's Mission and Objectives
The Defense Threat Reduction Agency plays a pivotal role in providing integrated solutions that empower the Department of Defense, the U.S. government, and allied international partners. The agency’s overarching goal is to deter threats against the United States and its allies, specifically targeting WMD and emerging threats.
Learn More About Parsons Corporation
Parsons Corporation continues to develop its global presence and capabilities in national security and infrastructure solutions. As a leading provider of disruptive technology, Parsons operates across multiple sectors, including cyber intelligence, missile defense, environmental remediation, and urban development.
To gain deeper insights into Parsons' initiatives and advancements, interested parties are encouraged to visit Parsons' website for comprehensive information.
Frequently Asked Questions
What is the value of the contract awarded to Parsons?
The contract awarded to Parsons has a ceiling value of $4 billion.
What are the primary objectives of Parsons under this contract?
Parsons aims to provide research, development, testing, evaluation, and systems engineering to support CWMD objectives set by the Department of Defense.
How long is the contract period?
The contract includes a five-year base period with an optional five-year extension.
What past projects has Parsons undertaken with DTRA?
Parsons has historically supported DTRA on projects addressing nuclear security, chemical weapons destruction, and non-proliferation efforts.
Where can I find more information about Parsons Corporation?
For more details, individuals can visit Parsons' official website to explore their services and initiatives in national security and infrastructure.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.