V2X Wins Up To $500 Mln U.S. Air Force Contract For C-12 Fleet Support; Shares Fall

(RTTNews) - V2X, Inc. (VVX), an American defense contractor and critical mission support provider, said on Tuesday it was awarded an indefinite-delivery/indefinite-quantity contract with a ceiling value of $500 million by the U.S. Air Force for sustainment of the C-12 aircraft fleet.

The contract runs through June 2031, the company said. Work will be performed at multiple locations in the United States and internationally.

V2X will provide maintenance, supply chain, engineering and logistics support for the C-12 Huron fleet. The aircraft are used for transport of personnel and cargo, medical evacuation and flight test support.

The Air Force uses the C-12 for Air Force Materiel Command, the Defense Intelligence Agency, the Defense Security Cooperation Agency and Pacific Air Forces.

V2X said it has supported the C-12 program previously and reported mission capability rates above 95% under the prior contract.

"Our customers depend on these aircraft to execute missions around the world, often on short notice and in demanding environments," said Vinny Caputo, Senior Vice President of Aerospace Systems at V2X.

Work will also support Foreign Military Sales partners in North America, South America, Europe, Africa, the Middle East and the Pacific, the company said.

On the NYSE, shares of V2X are currently losing 7.28 percent, changing hands at $79.94.

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