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Vertex Bags US Navy Contract Worth ~$230M

·1 min read
  • Vertex, a V2X, Inc. (NYSE: VVX) company, has secured a contract valued at up to $230 million for contractor logistics support for the U.S. Navy and U.S. Marine Corps' fleet of C-12 Huron aircraft.

  • The contract was awarded by the Naval Air Systems Command, known as NAVAIR.

  • The C-12 is a twin-engine aircraft used for light passenger and cargo missions.

  • The contract period of performance is a 3-month base for transition plus a 9-month option for full performance in the "base year" and 4 one-year options thereafter.

  • Vertex will provide various services, including site support, aircraft depot maintenance, engine depot maintenance, propeller depot overhauls, and modifications.

  • Price Action: VVX shares are trading lower by 3.98% at $35.48 on the last check Tuesday.

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