Skip to comments.SAIC Begins Work On $6.2 Billion Pact (Contract was protested by A Kuwaiti Co)
Posted on 08/24/2007 7:09:23 AM PDT by RDTF
SAIC Inc. began work on supply management of chemicals, packaged petroleum, oils and lubricants for the Defense Department under a contract valued at as much as $6.2 billion after a protest of the award was denied. SAIC said yesterday that it was informed Aug. 15 that work may continue following a ruling on the challenge by the Government Accountability Office.
The order was awarded May 2, and a protest was lodged by PWC Logistics Services Inc., a Kuwait-based global logistics company, GAO attorney Michael Golden said today.
SAIC, a military contractor specializing in computer services, has had the contract with the Defense Supply Center in Richmond, Va., for five years, with one five-year option period. The order allows the Defense Logistics Agency to spend as much as $6.2 billion, depending on the supplies required, San Diego-based SAIC said.
(Excerpt) Read more at baltimoresun.com ...
Hmmm, better go check the stock price and see if it’s moving back up at all.
Bring on $23/share. . .
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