V2X, Inc. (NYSE: VVX) shares are trading higher premarket on Monday after the company announced securing a $170 million contract to support the Drug Enforcement Administration’s (DEA) fleet of over 100 aircraft. This contract underscores V2X’s commitment to furthering the DEA’s mission in combating drug trafficking and upholding national security.
Jeremy C. Wensinger, President and CEO of V2X, emphasized the company’s unwavering dedication to understanding and supporting the DEA’s mission, particularly in providing essential services for its special mission aircraft and pilot development. He stated, “V2X has consistently demonstrated a complete understanding of the DEA’s mission, and the flexibility required to support its special mission aircraft and pilot development.”
Wensinger further highlighted the significance of the awarded contract, noting the trust placed in V2X by the DEA to deliver impactful solutions that enhance the agency’s capabilities in addressing drug trafficking and national security concerns.
In a strategic move, V2X recently entered into a joint venture with Parsons Corporation to pursue the National Science Foundation’s Antarctica Science and Engineering Support Contract (ASESC), which boasts a substantial ceiling value of $8 billion. Through this joint venture, V2X aims to provide top-tier scientific research support for the U.S. Antarctic Program over the next two decades.
The company also marked a milestone with the inauguration of its new corporate headquarters in Reston, Virginia. This strategic location aligns with V2X’s objectives, leveraging the area’s status as a prominent defense, technology, and aerospace industry hub to advance its missions effectively.
As of the latest update, VVX shares are up by 4.15% at $48.93 premarket on Monday, reflecting positive market sentiment towards V2X’s recent developments and strategic initiatives.
It is noteworthy that V2X’s endeavors and achievements have garnered attention and recognition within the industry. The company’s proactive approach towards supporting critical government initiatives, such as the DEA contract and the ASESC pursuit, underscores its commitment to driving impactful change and innovation in key sectors.
Investors and industry observers are closely monitoring V2X’s progress, with the company’s recent successes positioning it as a key player in the realm of specialized government contracts and scientific research support services.
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The original article, “V2X Lands $170 Million DEA Contract To Combat Drug Trafficking; Stock Gains,” was published on Benzinga.com in 2024.
