CHANTILLY, Va., Oct. 13, 2015 /PRNewswire/ -- Engility Holdings, Inc. (NYSE:EGL), today announced it has been awarded a $74 million contract by the U.S. Agency for International Development (USAID) to implement the Growth, Enterprise, Employment and Livelihood (GEEL) project in Somalia.
GEEL will expand small-and-medium-sized enterprise access to investment opportunities, increase the availability of key business services, and support improved business policy and regulation. The project also will stimulate private investment in high growth industries such as agriculture, fisheries and renewable energy, and will boost employment potential for youth and women in regions previously inaccessible due to security concerns.
"This award expands Engility's private sector engagement and investment promotion work in Africa, where we are supporting multiple USAID programs in several countries," said Tony Smeraglinolo, President and CEO of Engility. "We are proud to offer USAID the highest quality program, at a competitive price, for this important work in Somalia."
The contract represents new work and is a single award, five-year Indefinite Delivery, Indefinite Quantity (IDIQ) contract.
Engility is a pure-play government services provider that delivers highly skilled personnel wherever, whenever they are needed in a cost-efficient manner. The company proudly serves customers that span the federal services market including the Department of Defense, the Intelligence community, Space and Federal Civilian agencies. Headquartered in Chantilly, Virginia, Engility is a leading provider of specialized technical consulting, program and business support services, engineering and technology lifecycle support, information technology, modernization and sustainment, supply chain services and logistics management, and training and education for the U.S. Government. To learn more about Engility, please visit www.engilitycorp.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Engility's future prospects, projected financial results, estimated integration costs and acquisition related amortization expenses, and business plans. Words such as "may," "will," "should," "likely," "anticipates," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are also used to identify these forward-looking statements. These statements are based on the current beliefs and expectations of Engility's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause Engility's actual results to differ materially from those described in the forward-looking statements can be found under the heading "Risk Factors" included in our Annual Report on Form 10-K for the year ended December 31, 2014 and more recent documents that have been filed with the Securities and Exchange Commission (SEC) and are available on the investor relations section of Engility's website (http://www.engilitycorp.com) and on the SEC's website (www.sec.gov). Forward-looking statements are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, historical information should not be considered as an indicator of future performance.
SOURCE Engility Holdings, Inc.