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SAIC Awarded $121.5 Million ACV 1.1 Contract by U.S. Marine Corps

Company to build 13 prototypes by 2017

Category:

Thursday, March 17, 2016 6:30 am EDT

Dateline:

MCLEAN, Va.

Public Company Information:

NYSE:
SAIC
"Our solution provides the Marine Corps with an ACV that is fully-protected and has superior maneuverability with amphibious ship-to-shore capability. We are pleased that the protest for this program has been favorably resolved. Now, SAIC and the Marine Corps can move forward on this important program."

MCLEAN, Va.--(BUSINESS WIRE)--The U.S. Marine Corps awarded Science Applications International Corp. (NYSE: SAIC) a prime contract worth $121.5 million to build 13 prototypes for the Engineering, Manufacturing and Development (EMD) of the Amphibious Combat Vehicle Phase 1, Increment 1 (ACV 1.1).

“We are honored to have been selected by the U.S. Marine Corps to deliver a truly amphibious solution that will support infantry Marines ashore,” said Tom Watson, SAIC senior vice president and general manager of the Navy and Marine Corps customer group. “Our solution provides the Marine Corps with an ACV that is fully-protected and has superior maneuverability with amphibious ship-to-shore capability. We are pleased that the protest for this program has been favorably resolved. Now, SAIC and the Marine Corps can move forward on this important program.”

During the EMD phase, SAIC, along with teammate ST Kinetics, will provide the Marine Corps with 13 prototypes that will be tested next year. Work will be performed primarily in SAIC’s facility in Charleston, South Carolina, where the company is currently providing the Marine Corps with initial survivability upgrades to 10 Assault Amphibious Vehicle (AAV) prototypes.

SAIC and ST Kinetics’ enhanced ACV 1.1 solution, called TERREX 2, is an 8x8 wheeled, armored ACV with improved mobility that can transport a combat load of up to 11 embarked Marines and three crew members through hostile territory. On land, TERREX 2’s independent suspension system improves ground mobility and ride quality for U.S. Marines. In water, TERREX 2’s hydraulically driven propulsion systems with full independent thrust control authority allows safe operation at Sea-State 3 and through six-foot plunging surf.

"ST Kinetics is pleased to be informed of the Marine Corps’ selection of the TERREX 2 for the next phase of evaluation for the ACV 1.1 program,” said President of ST Kinetics Ravinder Singh. “Following GAO's decision to proceed with the ACV 1.1 program, and together with our teammate SAIC, ST Kinetics now moves into the EMD phase of the ACV program."

For more than 10 years, SAIC has modified and upgraded armored vehicles for the Department of Defense ensuring warfighters are protected during combat, while securing command and control and repair capabilities. ST Kinetics is one of Asia's leading land systems and specialty vehicles companies having delivered hundreds of TERREX 1 vehicles to the Singapore Armed Forces as well as the Warthog, a twin chassis, multi-purpose articulated tracked carrier, to the British Armed Forces.

About SAIC

SAIC is a premier technology integrator providing full life cycle services and solutions in the technical, engineering, intelligence, and enterprise information technology markets. SAIC is Redefining Ingenuity through its deep customer and domain knowledge to enable the delivery of systems engineering and integration offerings for large, complex projects. SAIC’s approximately 15,000 employees are driven by integrity and mission focus to serve customers in the U.S. federal government. Headquartered in McLean, Virginia, SAIC has annual revenues of approximately $4.4 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.

Certain statements in this announcement constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and a number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's Annual Report on Form 10-K and other such filings that SAIC makes with the SEC from time to time, which may be viewed or obtained through the Investor Relations section of our web site at www.saic.com. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.

Contact:

Science Applications International Corp.
Lauren Presti, 703-676-8982
lauren.a.presti@saic.com