Engility Holdings Inc fka EGL

[ThatGuy42]

Engility Awarded Position On $1 Billion Contract To Support Overseas Initiatives For Water And Development

Official Press Release

Award Reflects Strong Technical Consulting Capabilities for Addressing Water Security Challenges in a Changing World

CHANTILLY, Va., March 23, 2015 /PRNewswire/ -- Engility Holdings, Inc. (NYSE: EGL) today announced it has been awarded an Indefinite Delivery Indefinite Quantity (IDIQ) multiple-award contract with a $1 billion ceiling to provide technical advisory services to the U.S. Agency for International Development (USAID). The five-year contract represents a continuation of Engility's work under the previous Water II IDIQ Contract. Task orders issued under this new award can be cost plus fixed fee or firm fixed price.

Under the requirements of the Water and Development IDIQ (WADI), Engility will provide a range of technical services, including multi-year projects, to USAID/Washington bureaus and USAID missions worldwide. The focus of this work will be to promote food security and advance development through improvements to water, supply, sanitation and hygiene, and the sound management of water.

"We are proud of our long-standing service to USAID and its efforts to address global water development needs," said Engility President and CEO Tony Smeraglinolo. "Improved water management and food security are important for creating economic growth and reducing poverty for millions of people around the world. Through this WADI award, Engility will continue to support USAID programs to meet this development challenge."

ABOUT ENGILITY

Engility is a pure-play government services provider that delivers highly skilled personnel wherever, whenever they are needed in a cost-efficient manner. The company proudly serves customers that span the federal services market including the Department of Defense, the Intelligence community, Space and Federal Civilian agencies. Headquartered in Chantilly, Virginia, Engility is a leading provider of specialized technical consulting, program and business support services, engineering and technology lifecycle support, information technology, modernization and sustainment, supply chain services and logistics management, and training and education for the U.S. Government. To learn more about Engility, please visit www.engilitycorp.com.

FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Engility's future prospects, projected financial results, estimated integration costs and acquisition related amortization expenses, business plans, as well as the TASC transaction and its expected benefits. Words such as "may," "will," "should," "likely," "anticipates," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are also used to identify these forward-looking statements. These statements are based on the current beliefs and expectations of Engility's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause Engility's actual results to differ materially from those described in the forward-looking statements can be found under the heading "Risk Factors" included in our Annual Report on Form 10-K for the year ended December 31, 2014, and more recent documents that have been filed with the Securities and Exchange Commission (SEC) and are available on the investor relations section of Engility's website (http://www.engilitycorp.com) and on the SEC's website (www.sec.gov). Forward-looking statements are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, historical information should not be considered as an indicator of future performance.