GSE Solutions announced a new contract for the expansion of specialized support services to two US Government engineering laboratories dedicated to the support of the US Navy. GSE will continue to serve as a subcontractor to a large global engineering, construction, and project management firm that has the master contract for managing the labs. GSE will provide Engineering services that include simulation engineers and test specialists to support simulation-based training systems. The contract was awarded in January, and the initial year of the contract is worth $5.47M, which will go into the backlog and take effect on February 1. The contract includes additional options for the subsequent four years that, if exercised, would bring the total value to approximately $28.3M over five years. GSE has been under a series of service contracts with these laboratories for 21 years and has been tasked to build and test training systems used across a number of government locations in support of the US Navy.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly