BWX Technologies, Inc. (NYSE:BWXT) is pleased to announce that NASA has awarded a contract option on the Synergy-Achieving Consolidated Operations and Maintenance (SACOM) contract held by BWXT subsidiary Syncom Space Services LLC (S3). The SACOM contract is for consolidated maintenance and operations support services at the Stennis Space Center in Hancock County, Mississippi, and the Michoud Assembly Facility in New Orleans, Louisiana.
With the grant of award term 2, the S3 contract is extended to September 30, 2020. The contract includes additional award term provisions that could potentially extend the contract until Feb. 28, 2025. The total value of the contract including the initial award and the potential exercise of all option periods is approximately $1.3 billion.
S3 is a joint venture between BWXT Nuclear Operations Group, Inc. and PAE Applied Technologies LLC.
Since beginning our work at Stennis and Michoud in 2016, BWXT and PAE have partnered with NASA for a number of important successes at both locations, said Rex Geveden, BWXTs president and chief executive officer. We are extremely pleased to have been awarded this extension and look forward to delivering more positive results for our customer in the years to come.
Some of S3s accomplishments since 2016 include:
- Implementation of a first-of-a-kind consolidated operating and maintenance contract for two NASA sites
- Consolidation of manufacturing services to one site (Michoud)
- Completion of a multitude of rocket engine tests, including the first-ever test of a single rocket fired 10 times within a 10-day duration to support a Defense Advanced Research Projects Agency (DARPA) initiative
- Safe transportation of Space Launch System rocket test components from Michoud to Marshall Space Flight Center in Huntsville, Alabama for testing
BWXT cautions that this release contains forward-looking statements, including statements relating to the performance, timing, impact and value, to the extent contract value can be viewed as an indicator of future revenues, of the exercise of the contract option. These forward-looking statements involve a number of risks and uncertainties, including, among other things, modification or termination of the contract and delays. If one or more of these or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, please see BWXTs annual report on Form 10-K for the year ended December 31, 2017 and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. BWXT cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
About Syncom Space Services LLC
S3 is a joint venture between BWXT Nuclear Operations Group, Inc. and PAE Applied Technologies LLC. S3 provides facility operations and maintenance services for institutional and technical facilities, and it also performs test and manufacturing support services at NASAs Stennis Space Center and Michoud Assembly Facility. The S3 team offers management best practices, innovative processes, systems engineering and continuous improvement methods with an emphasis on safety. Learn more at http://www.syncomspaceservices.com/.
Headquartered in Lynchburg, Va., BWX Technologies, Inc. (NYSE:BWXT) is a leading supplier of nuclear components and fuel to the U.S. government; provides technical and management services to support the U.S. government in the operation of complex facilities and environmental remediation activities; and supplies precision manufactured components, services and fuel for the commercial nuclear power industry. With approximately 6,250 employees, BWXT has 11 major operating sites in the U.S. and Canada. In addition, BWXT joint ventures provide management and operations at more than a dozen U.S. Department of Energy and NASA facilities. Follow us on Twitter @BWXTech and learn more at www.bwxt.com.
PAE is a leading provider of enduring support for the essential missions of the U.S. government, its allied partners and international organizations. In its 60th year of business, PAE provides services in aviation, capacity building and stabilization, critical infrastructure, expeditionary logistics, identity and information management solutions, integrated security solutions, test and training ranges, and training solutions to support the complex missions of our customers around the world. PAE has a workforce of approximately 15,000 people in over 50 countries across all seven continents and is headquartered in Arlington, VA. Learn more at www.pae.com.
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