|[October 03, 2013]
VSE Awarded $9M U.S. DOJ International Asset Recovery Contract
ALEXANDRIA, Va. --(Business Wire)--
VSE Corporation (NASDAQ: VSEC) has been awarded an Indefinite
Delivery/Indefinite Quantity (IDIQ) contract to support the U.S.
Department of Justice (DOJ) Criminal Division, Asset Forfeiture and
Money Laundering (AFML) Section in international asset recovery
services. This contract has a period of performance of 12 months with
four 12-month options. The initial ceiling for this award is $9M.
VSE's International Group will support the DOJ, Department of Homeland
Security and the Department of Treasury investigative agencies to
identify, restrain, forfeit, and dispose of assets that are located in
foreign nations, as well as the recovery, evaluation, and repatriation
of illicit assets to the United States for disposition. VSE will
facilitate the U.S. Government's ability to plan, seize, maintain and
return the maximum value from the disposition of any seized asset; from
aircraft and vessels to jewels, livestock, real estate and operating
The VSE Team combines the most capable members of a proven, successful
asset recovery and disposition team who have been relied upon for over
six years by the DOJ and the U.S. Treasury Department, as well as new
team members that provide international capabilities in critical areas.
Our core team includes Deloitte (News - Alert) Consulting, LLC, Colliers International
Greater Los Angeles, LLC, Rick Levin & Associates, National Liquidators,
and Five Stone Intelligence, Inc.
"We are pleased to be selected to execute this unique program, and we
are committed to the success of this contract and achieving the highest
possible return for the DOJ AFML," said Harry Flammang, President of
International Group. "With our international program management
expertise and seized and forfeited asset management experience, we offer
professional support services that are the best value, risk resilient
Established in 1959, VSE is a diversified federal services company with
experience in solving issues of global significance with integrity,
agility, and value. VSE is dedicated to our clients' success by
delivering sustainment services for legacy systems and equipment and
professional services through talented people and innovative solutions.
Key competencies include supply chain management, equipment
refurbishment, logistics, engineering, energy, IT solutions, health care
IT, and consulting. For additional information regarding VSE services
and products, please see the Company's web site at www.vsecorp.com
or contact Christine Kaineg, VSE Investor Relations at (703) 329-3263.
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