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ap

Versar to share in $3 billion Air Force contract

Versar among 16 companies receiving $3 billion contract for environmental work; shares soar

  • On 1:31 pm EDT, Wednesday September 30, 2009

SPRINGFIELD, Va. (AP) -- Government contractor Versar Inc. said Wednesday it is one of 16 small businesses that received a $3 billion five-year Air Force contract for environmental and other work.

The contract by the Air Force's center for engineering and the environment, which includes an eight-year performance period, calls for environmental restoration services, construction and services in support of the Military Munitions Response Program.

Shares of Versar jumped $1.22, or 33.2 percent, to $4.90 in afternoon trading. The stock earlier traded as high as $5.70, eclipsing a 52-week peak of $5.20 set in June.

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