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PAE - PAE Inc News Story

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Market Cap £551.1m
Enterprise Value £1.14bn
Revenue £1.97bn
Position in Universe 3106th / 6848

PAE Expands Air Force Reach with USAFE-AFAFRICA IDIQ Win, Award of Initial Task Order Supporting Electronic Warfare Missions

Thu 10th December, 2020 1:00pm
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FALLS CHURCH, Va., Dec. 10, 2020 (GLOBE NEWSWIRE) -- PAE
(https://www.globenewswire.com/Tracker?data=v3W6mzxeQ0dIlotJHa4EKbULYWWuHOykCWGY70SyECDzHxAfse3z-UTZVdmAGLqk)
(NASDAQ: PAE, PAEWW), a global leader in delivering smart solutions to the
U.S. government and its allies, was awarded a single-award indefinite
delivery, indefinite quantity contract with a ceiling value of $98 million to
provide electronic warfare operations training and infrastructure maintenance
support for the U.S. Air Forces in Europe & Air Forces Africa
(https://www.globenewswire.com/Tracker?data=sYkwxl0ifUm5Dd8R4u9_Nb1NwiAi5qJp6vmR8IVlhJ5UyU14qQZ4yDTyjva-gVVnJxM4AEq0o5rsFatNtO9MZDR_Lore30ezAkS1V-u-g6j0rKEXBBRtiJk8-OHGOFiq).
PAE was also awarded a five-year, €46 million new task order on the contract
to operate and maintain USAFE-AFAFRICA's electronic warfare range systems
infrastructure in Germany and provide mobile training operations throughout
Europe and Africa.

PAE President and CEO John Heller
(https://www.globenewswire.com/Tracker?data=A0Hjb-8z_vTeUHy26x9DXGcDBtYqzkEF1neoArJ4eVO8KAqosX6doKX0MqP08eBr9ZefcQPKpkTfP_todNdPXIpB9uMsTsM6PYzszjhBmFo=)
said the company’s past technical experience was key to winning the awards.

“PAE has built a unique set of skills and knowledge from decades supporting
essential Air Force national security initiatives,” Heller said. “We
believe that expertise and our dedication to continuous improvement practices
gives PAE a competitive advantage with training and technical operations
support services work, including this opportunity to support electronic
warfare training missions for USAFE-AFAFRICA at locations throughout Europe
and Africa.”

The awards further PAE’s strategy of expanding innovation and technology
integration services for U.S. government customers, adding to a 65-year
history providing world class technical support services for critical national
security missions. The contract vehicle has a five-year period of performance
with future task orders anticipated for sites in the United Kingdom and Italy.

About PAE
For 65 years, PAE has tackled the world’s toughest challenges to deliver
agile and steadfast solutions to the U.S. government and its allies. With a
global workforce of about 20,000 on all seven continents and in approximately
60 countries, PAE delivers a broad range of operational support services to
meet the critical needs of our clients. Our headquarters is in Falls Church,
Virginia. Find us online at pae.com
(https://www.globenewswire.com/Tracker?data=nBXFduoYo7fFX5t_PdGWGtP-qmq0RBnlIehorjYQKNuyBQ92_RXq2z3CkHUlQsehK4TSf8703-d9g59xp_bwHg==),
on Facebook
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Twitter
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and LinkedIn
(https://www.globenewswire.com/Tracker?data=RDkzotmlchXCVh9rl5Wqqh3QphquT5_s1ZDTaGdz0FJLhAtxsJUxXUNKQ6sYFauRpsisf1D3LaIj7LSEE3yLM21A8qCcd-HoHEMY3BQcwC8=).

Forward-Looking Statements
This press release may contain a number of “forward-looking statements” as
defined in the Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, but are not limited to, statements about
PAE’s possible or assumed future results of operations, financial results,
backlog, estimation of resources for contracts, risks related to IDIQ
contracts, strategy for and management of growth, needs for additional
capital, risks related to U.S. government contracting generally, including
congressional approval of appropriations, and bid protests. These
forward-looking statements are based on PAE’s management’s current
expectations, estimates, projections and beliefs, as well as a number of
assumptions concerning future events.

These forward-looking statements are not guarantees of future performance,
conditions or results, and involve a number of known and unknown risks,
uncertainties, assumptions and other important factors, many of which are
outside PAE’s management’s control, that could cause actual results to
differ materially from the results discussed in the forward-looking
statements.

Forward-looking statements included in this release speak only as of the date
of this release. PAE does not undertake any obligation to update its
forward-looking statements to reflect events or circumstances after the date
of this release except as may be required by the federal securities laws.

For media inquiries regarding PAE, contact:

Terrence Nowlin
Senior Communications Manager
PAE
703-656-7423
terrence.nowlin@pae.com

For investor inquiries regarding PAE, contact:

Mark Zindler
Vice President, Investor Relations
PAE
703-717-6017
mark.zindler@pae.com

(https://www.globenewswire.com/NewsRoom/AttachmentNg/fcc8a68c-a0d6-41da-9db8-5dd40cc2bf70)



GlobeNewswire, Inc. 2020
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