URS Corp. Wins Contract - Analyst Blog
September 22 2011 - 10:30AM
Zacks
URS Corporation (URS) received an order from
the Department of Defense to provide the US Army aviation
maintenance services. The task order is for a period of two years
and has been granted under URS’ Contract Field Teams’ (CFT)
Indefinite Delivery/Indefinite Quantity contract. The maximum value
of the contract for URS is $129 million.
As per the deal, aviation maintenance, program management and
logistics support will be provided by URS for rotary wing aircraft
and related equipment at the army’s bases in the state of
Washington and the Republic of Korea. URS will also repair,
restructure or renovate aircraft systems and components and will
support the military units engaged in joint training exercises and
mobilization activities through provision of maintenance
services.
Improving capital spending environment will continue to benefit
both the power and industrial and commercial sectors. The company’s
infrastructure business continues to expand in international
markets. These positive factors will boost the company’s
performance in 2011.
URS Corp. was originally incorporated in California on May 1,
1957 as Broadview Research Corporation. On May 18, 1976, it was
re-incorporated in Delaware under the name URS Corporation. The
name “URS Corporation” was formally adopted on February 21,
1990.
The company provides engineering, construction and technical
services. As such, it offers a broad range of program management,
planning, design, engineering, construction and construction
management, operations and maintenance, and decommissioning and
closure services to public agencies and private sector clients
globally.
It is also a major U.S. federal government contractor in the
areas of systems engineering and technical assistance, and
operations and maintenance. Major competitors of URS are
AECOM Technology Corporation (ACM), Fluor
Corporation (FLR) and KBR Inc. (KBR).
We currently maintain our Neutral rating on URS Corp. with a
Zacks #4 Rank (short-term Sell recommendation) over the next
one-to-three months.
AECOM TECH CORP (ACM): Free Stock Analysis Report
FLUOR CORP-NEW (FLR): Free Stock Analysis Report
KBR INC (KBR): Free Stock Analysis Report
URS CORP (URS): Free Stock Analysis Report
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