8/1/2003 - The Titan Corporation (NYSE: TTN) announced that the Department of the Navy has awarded the company an indefinite delivery, indefinite quantity (ID/IQ) contract having a potential value of $41 million over the next five years. Under this delivery order-based contract, Titan will provide engineering and related technical, logistical and direct fleet-support services to the U.S. Navy's Space and Naval Warfare (SPAWAR) Systems Activity Pacific, based in Pearl City, Hawaii, and headquartered in San Diego.
"This single-source ID/IQ award extends Titanís solid relationship with the Navy in Pacific areas," said Gene Ray, Titan's chairman, president, and CEO. "It demonstrates Titan's exceptional capability to provide an extensive range of engineering and technical support services and resources to the expanding and transforming Naval mission in the Pacific."
Navy tasking under this contract will include engineering, fabrication, installation, logistics, administration, design, testing and evaluation, rapid prototype development, and acquisition of commercial-off-the-shelf items used in turn-key operations for electronic/communications equipment and systems for the U.S. Navy and U.S. Coast Guard vessels and shore stations world-wide.
Headquartered in San Diego, The Titan Corporation is a leading provider of comprehensive information and communications systems solutions and services to the Department of Defense, intelligence agencies, and other federal government customers. As a provider of national security solutions, the company has approximately 11,000 employees and current annualized sales of approximately $1.7 billion.
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