CENTREVILLE, Va., Oct. 12, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) and Colas UK Projects, operating as Parsons-Colas UKP JV, was awarded a five-year, $249 million multiple-award indefinite-delivery, indefinite-quantity (IDIQ) contract by the Naval Facilities Engineering Systems Command (NAVFAC) Far East. The new award will support projects to improve resilience at various locations on the U.S. Navy Support Facility Diego Garcia (NSFDG), British Indian Ocean Territory (B.I.O.T.).

“We look forward to providing design expertise across all engineering disciplines to ensure NSFDG can focus on mission requirements that enhance global security initiatives at this critical forward operating base,” said Dave Bird, senior vice president, engineered systems for Parsons. “As a key defense asset to both British and U.S. forces, improving infrastructure resiliency is our priority.”

The contract will support new and ongoing renovation and modernization efforts that advance NSFDG’s mission of logistically connecting forward deployed operational forces in the Indian Ocean and Persian Gulf areas of responsibility for national policy objectives.

Parsons Colas UKP JV and the principal subcontractor, San Juan Construction will support NAVFAC Far East and NSFDG’s INDOPACIFIC mission while operating seven degrees south of the equator in the Indian Ocean.

Parsons is a global leader in critical infrastructure excellence, committed to using innovation to drive the greatest value for our federal projects. The company has more than 75 years of experience in providing solutions and services to federal agencies, including improving sustainability, efficiency, and resiliency of federal infrastructure though technology-driven solutions.

To learn more about Parsons’ federal infrastructure capabilities, visit Parsons.com/federal-infrastructure/.

About Parsons

Parsons (NYSE: PSN) is a leading disruptive technology provider in the global security, intelligence, and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, connected infrastructure, and smart cities. Please visit   ,and follow us on   and   to learn how we’re making an impact.

Forward-Looking Statements

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Registration Statement on Form S-1 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this presentation that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so in connection with our ongoing requirements under federal securities laws.

Media Contact: Bernadette Miller + 1 980.253-9781 bernadette.miller@parsons.com

Investor Relations Contact: Dave Spille + 1 571.655.8264 dave.spille@parsons.com

Copyright 2021 GlobeNewswire, Inc.

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