Aecom Wins Air Force ContractMonday, March 19, 2012
Aecom Technology Corp. has won an order from the U.S military worth $289 million over 34 months if all options are exercised.
The engineering company based in downtown Los Angeles said the contract is for full-time maintenance services for aircraft at military locations in Southwest Asia and the Middle East. Aecom plans to hire more than 1,000 employees to provide the maintenance services.
The new contract supplements an agreement already in place between Aecom and the U.S. Army Central Command. It is part of the Contract Field Teams program, which provides inspections, maintenance and repairs of aircraft and ground vehicles at government locations around the world and runs until 2015.
To date, Aecom has approximately $665 million in Contract Field Teams contracts.
By late Monday morning, shares of Aecom had risen 41 cents or 2 percent to $23.57 on the Nasdaq.