Defense company Parsons Corp (NYSE:PSN) has bagged a contract from the U.S. Army Corps of Engineers (USACE) Los Angeles District on the Camp San Luis Obispo (CSLO) Munitions Response Site (MRS) 05.
The contract, spanning five years, has a ceiling value of $21 million and is new work for the company.
Parsons will serve as a subcontractor to the prime contractor PIKA-Insight joint venture (JV) LLC, and will conduct advanced geophysical classification (AGC) data collection.
The USACE Los Angeles District provides civil works and military engineering support to Southern California, Nevada, Arizona, and parts of Utah.
USACE Los Angeles maintains responsibilities for CSLO MRS 05 as the site is part of the Formerly Used Defense Sites (FUDS) Program and requires environmental remediation.
Parsons will use its AGC capabilities and deep domain expertise to collect and analyze data vital to the proposed remedial action.
Price Action: PSN shares closed lower by 0.09% at $62.96 on Friday.
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