Parsons Awarded Position on $1B NNSA Counter Nuclear Smuggling System Deployment Contract
04 April 2024 - 7:05AM
Parsons Corporation (NYSE: PSN) announced today that the company
was awarded a position on an indefinite-delivery,
indefinite-quantity multiple award task order contract by the
National Nuclear Security Administration’s (NNSA’s) Office of
Nuclear Smuggling Detection and Deterrence (NSDD). The $1 billion
ceiling value contract to deploy advanced counter-nuclear smuggling
systems globally includes a three-year base period of performance
and two, two-year option periods and is new work for the company.
Parsons has already been awarded two task orders
under this contract, enabling NSDD to build international partner
capabilities that prevent radioactive and nuclear material
acquisition by malign actors. The contract scope includes tasks
associated with design, integration, implementation,
communications, logistics, training, and equipment procurement to
support the systems’ deployment.
“Parsons is a leader in providing innovative
national security solutions to the federal government, and this
award continues our growth as a Department of Energy and NNSA
critical technology solutions provider,” said Jon Moretta,
president, Engineered Systems for Parsons. “Our experience and
collaboration with NNSA enhance global nuclear security and advance
the U.S. government’s nonproliferation goals by equipping partner
nations with capabilities to detect, disrupt, and investigate the
illicit trafficking of radioactive and nuclear materials.”
Parsons has provided infrastructure and
environmental solutions to the Department of Energy for 80 years,
and supported NNSA since 2012, through the Enterprise Construction
Management Services contract. This work for NNSA NSDD expands the
company’s nonproliferation and security systems integration and
delivery support to the federal government. As threats continue to
evolve, Parsons is well-positioned to design, integrate, deploy,
and sustain the most advanced security technology systems at a
global scale and across all domains.
To learn more about Parsons’ national security
solutions, visit Parsons.com/national-security.
About Parsons: Parsons (NYSE: PSN)
is a leading disruptive technology provider in the national
security and global infrastructure markets, with capabilities
across cyber and intelligence, space and missile defense,
transportation, environmental remediation, urban development, and
critical infrastructure protection. Please visit parsons.com
and follow us on LinkedIn and Facebook to learn how we're making an
impact.
Forward-Looking Statements:This
document contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995, Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements are based on our current expectations, beliefs and
assumptions, and are not guarantees of future performance.
Forward-looking statements are inherently subject to uncertainties,
risks, changes in circumstances, trends and factors that are
difficult to predict, many of which are outside of our control.
Accordingly, actual performance, results and events may vary
materially from those indicated in the forward-looking statements,
and you should not rely on the forward-looking statements as
predictions of future performance, results or events. Numerous
factors could cause actual future performance, results and events
to differ materially from those indicated in the forward-looking
statements, including, among others: any issue that compromises our
relationships with the U.S. federal government or its agencies or
other state, local or foreign governments or agencies; any issues
that damage our professional reputation; changes in governmental
priorities that shift expenditures away from agencies or programs
that we support; our dependence on long-term government contracts,
which are subject to the government’s budgetary approval process;
the size of our addressable markets and the amount of government
spending on private contractors; failure by us or our employees to
obtain and maintain necessary security clearances or
certifications; failure to comply with numerous laws and
regulations; changes in government procurement, contract or other
practices or the adoption by governments of new laws, rules,
regulations and programs in a manner adverse to us; the termination
or nonrenewal of our government contracts, particularly our
contracts with the U.S. federal government; our ability to compete
effectively in the competitive bidding process and delays, contract
terminations or cancellations caused by competitors’ protests of
major contract awards received by us; our ability to generate
revenue under certain of our contracts; any inability to attract,
train or retain employees with the requisite skills, experience and
security clearances; the loss of members of senior management or
failure to develop new leaders; misconduct or other improper
activities from our employees or subcontractors; our ability to
realize the full value of our backlog and the timing of our receipt
of revenue under contracts included in backlog; changes in the mix
of our contracts and our ability to accurately estimate or
otherwise recover expenses, time and resources for our contracts;
changes in estimates used in recognizing revenue; internal system
or service failures and security breaches; and inherent
uncertainties and potential adverse developments in legal
proceedings, including litigation, audits, reviews and
investigations, which may result in materially adverse judgments,
settlements or other unfavorable outcomes. These factors are not
exhaustive and additional factors could adversely affect our
business and financial performance. For a discussion of additional
factors that could materially adversely affect our business and
financial performance, see the factors included under the caption
“Risk Factors” in our Registration Statement on Form S-1 and our
other filings with the Securities and Exchange Commission. All
forward-looking statements are based on currently available
information and speak only as of the date on which they are made.
We assume no obligation to update any forward-looking statement
made in this presentation that becomes untrue because of subsequent
events, new information or otherwise, except to the extent we are
required to do so in connection with our ongoing requirements under
federal securities laws.
Media Contact:Jonathan Larry+1
706.832.7330jonathan.larry@parsons.com
Investor Relations Contact:Dave Spille+1
703.775.6191Dave.Spille@parsons.com
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