Engility Wins Clean Energy IDIQ Contract to Support Technical Assistance in Developing Countries
Engility's IRG Subsidiary Will Support USAID Efforts
CHANTILLY, Va.--(BUSINESS WIRE)-- Engility Holdings, Inc. (NYS: EGL) , today announced that one of its subsidiaries has been selected as a prime contractor to support the U.S. Agency for International Development's multi-million dollar Clean Energy IDIQ Contract for Non-Critical Priority Countries and the task orders to be issued under the program.
The IDIQ contract is expected to have a maximum combined IDIQ ceiling value of $350 million over five years. Engility, through its wholly-owned subsidiary International Resources Group Ltd, (IRG), will be eligible to compete for task orders until the shared ceiling is reached. IRG became part of Engility Corporation during Engility's spin off from L-3 Communications in July 2012.
The Clean Energy IDIQ's goal is to improve access to reliable and affordable clean energy, improve regulation and governance in the energy sector, demonstrate the use of innovative technologies and business models, and assist with the transition to a low carbon development trajectory.
"This contract builds on the current Energy II IQC that IRG holds and represents an expansion of energy support services that its highly skilled team of professionals has been providing on USAID's behalf for the past 34 years," said Tony Smeraglinolo, President and CEO of Engility.
"The Engility team is proud to have the opportunity to continue their work of supporting USAID and its important mission throughout the developing world. We will provide a range of critical activities, from energy sector reform to increasing human resource capacity related to energy services and fostering private sector participation and investment," he added.
The U.S. Agency for International Development administers the U.S. foreign assistance program providing economic and humanitarian assistance in more than 80 countries worldwide.
About Engility Corporation
Engility is a pure-play government services contractor providing highly skilled personnel wherever, whenever they are needed in a cost-effective manner. Headquartered in Chantilly, Virginia, Engility is a leading provider of systems engineering services, training, program management, and operational support for the U.S. Government with about 7,800 employees worldwide and estimated sales of $1.6 billion for 2012. To learn more about Engility, please visit www.engilitycorp.com
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, and business plans. 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" in the Information Statement included in our Registration Statement on Form 10, as amended, and Quarterly Report on Form 10-Q for the quarter ended September 28, 2012, which have been filed with the Securities and Exchange Commission (SEC) and are available on Engility's website (http://www.engilitycorp.com/investor-relations.html) 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.
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