CDI Corp. Awarded Engineering and Marine Services Contract by U.S. Navy

Nov 05, 2015, 16:30 ET from CDI Corp.

PHILADELPHIA, Nov. 5, 2015 /PRNewswire/ -- CDI Corp. (NYSE: CDI) today announced that CDI Marine Company LLC, a part of its Government Services business, has been awarded a watercraft engineering and marine services contract by the U.S. Navy Naval Surface Warfare Center, Carderock Division. The contract is in support of the Center's Combatant Craft Division (CCD), a full-spectrum, full life-cycle, and technical support center for all types of combatant craft, boats, watercraft and associated systems.

CDI Government Services will support CCD's mission, which includes research and development, systems and in-service design engineering for the Navy's small craft, and all life-cycle support for the Navy's watercraft efforts outside the continental United States (OCONUS). Specifically, this support includes: program/project management, engineering, alterations and industrial work, and integrated logistics support with disciplines including structural, mechanical, electrical and electronic systems.

This two-year single-award contract has a maximum value of $38.3 million. This new contract represents an expanded geographic and services role for CDI Government Services in support of CCD's mission. CDI Government Services will serve as the lead contractor for a group of companies representing expertise in watercraft engineering.

"CDI is proud to continue its unwavering commitment to meet the nation's defense needs and we appreciate the confidence that the Navy has shown in us to provide additional services to the CCD," said Bill Wasilewski, Executive Vice President, CDI's Global Engineering and Technology Solutions segment.

About CDI

CDI Corp. (NYSE: CDI) provides engineering, information technology and staffing solutions. Our customers operate in a variety of industries, ranging from Oil, Gas & Chemicals to Aerospace and Industrial Equipment, Defense and High Technology, and include corporate, federal, state and municipal entities. We serve customers through offices and delivery centers in the United States, Canada and the United Kingdom. We also provide staffing services through our global MRINetwork® of franchisees. Learn more at www.cdicorp.com

CDI Marine Company LLC and CDI-M&T Company LLC, part of the CDI Government Services business, provide ship design, ship alteration, high-speed craft and boat design, naval engineering, aviation engineering, and professional staffing services to the U.S. Department of Defense, the Department of Homeland Security, and the defense industry worldwide. Today, clients include the U.S. Navy, U.S. Army, U.S Air Force, the U.S. Coast Guard, and prime contractors who have long-term, high-value project commitments to government agencies. Learn more at www.cdicorp.com/engineering

Caution Concerning Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  All statements that address expectations or projections about the future are forward-looking statements. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions that are difficult to predict. Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond our control or are subject to change, actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to: the risk that the expected benefits of this contract are not realized; changes in federal government funding for defense related projects due to Congressional actions, or automatic budget cuts under sequestration and partial government shutdowns; and government policies, legislation or judicial decisions adverse to our businesses.  More detailed information about these and other risks and uncertainties may be found in our filings with the SEC, particularly in the "Risk Factors" section of our Form 10-K and the "Management's Discussion and Analysis of Financial Condition and Results of Operations" section of our Form 10-Ks and Form 10-Qs. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We assume no obligation to update such statements, whether as a result of new information, future events or otherwise, except as required by law.  

SOURCE CDI Corp.



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