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
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URS CORP (URS): Free Stock Analysis Report
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