Monday, July 02, 2007
DynCorp Kuwaiti LOGCAP IV partner's shares up by 6.6 per cent
Contracts
(Gulf Daily News) - Kuwaiti logistics provider Agility said yesterday it was part of a group with US firm Dyncorp International which won a $50-billion (BD18-billion) deal from the US military. Agility shares rallied 6.6 per cent after the news. Agility said in a statement on the Kuwait bourse Web site it would provide various logistics, supply and warehousing services as part of the deal.
The contract would run 10 years, of which 9 were optional, and would have a value of $50bn for the whole period, it added. The deal, which included food and oil supply services, would be worth $5 billion for each year. Agility, which is diversifying its business and expanding abroad, said it could not currently determine its exact share of the deal.
The total deal also includes US firms KBR, a former unit of Halliburton, and Fluor Corporation with a combined potential value of up to $150 billion to provide services to the US military in the Middle East. Agility said on June 16 the US military had renewed a five-year deal worth $1.5 billion, extending the deal to its third consecutive year. The contract is up for yearly renewal.
The US government said on June 1 it had awarded Agility another supply and food deal worth up to $2.8 billion. Agility has said it was expanding in the Middle East, Africa or Eastern Europe to diversify its business and lower its exposure to US military deals, a key source of income.
Agility, previously known as Public Warehousing Co., has bought at least seven smaller rivals this year including New Zealand-based LEP International and Chinese freight company Guangzhou Runtang International Transport Company Limited.
Kuwait's money supply rose 15.6pc in the year to May, according to data on the Central Bank of Kuwait Website. M3, the broadest measured of money supply, rose to $60.36 billion. Money supply rose 18.3pc in the year to April.
The contract would run 10 years, of which 9 were optional, and would have a value of $50bn for the whole period, it added. The deal, which included food and oil supply services, would be worth $5 billion for each year. Agility, which is diversifying its business and expanding abroad, said it could not currently determine its exact share of the deal.
The total deal also includes US firms KBR, a former unit of Halliburton, and Fluor Corporation with a combined potential value of up to $150 billion to provide services to the US military in the Middle East. Agility said on June 16 the US military had renewed a five-year deal worth $1.5 billion, extending the deal to its third consecutive year. The contract is up for yearly renewal.
The US government said on June 1 it had awarded Agility another supply and food deal worth up to $2.8 billion. Agility has said it was expanding in the Middle East, Africa or Eastern Europe to diversify its business and lower its exposure to US military deals, a key source of income.
Agility, previously known as Public Warehousing Co., has bought at least seven smaller rivals this year including New Zealand-based LEP International and Chinese freight company Guangzhou Runtang International Transport Company Limited.
Kuwait's money supply rose 15.6pc in the year to May, according to data on the Central Bank of Kuwait Website. M3, the broadest measured of money supply, rose to $60.36 billion. Money supply rose 18.3pc in the year to April.
Labels: Agility Defense and Government Services, CH2M Hill, DynCorp International, Fluor Intercontinental, KBR, Kuwait, LOGCAP IV, Public Warehousing Co.
Friday, June 29, 2007
DynCorp to team up on LOGCAP IV contract
Contracts
(BUSINESS WIRE) - The U.S. Army Sustainment Command has selected DynCorp International as one of three providers of logistics support to the U.S. Army under the Logistics Civil Augmentation Program (LOGCAP) IV contract. The LOGCAP IV contract has a term of up to 10 years and a potential annual value to DynCorp International of $5 billion in gross revenue.
Under this contract, DynCorp International will support U.S. forces worldwide with immediate focus on those deployed in the Middle East. DynCorp International holds several important logistics and contingency contracts for the U.S. military, and was the sole holder of the LOGCAP II contract from 1997-2002. Dyncorp International is teamed with CH2M Hill and Agility Defense and Government Services (formerly PWC Logistics) for LOGCAP IV.
Under this contract, DynCorp International will support U.S. forces worldwide with immediate focus on those deployed in the Middle East. DynCorp International holds several important logistics and contingency contracts for the U.S. military, and was the sole holder of the LOGCAP II contract from 1997-2002. Dyncorp International is teamed with CH2M Hill and Agility Defense and Government Services (formerly PWC Logistics) for LOGCAP IV.
Labels: Agility Defense and Government Services, CH2M Hill, DynCorp International, LOGCAP IV, PWC Logistics
