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Benzinga
Benzinga
Business
Akanksha Bakshi

ENGlobal Secures $4.4M Fuel Handling Contract From Defense Logistics Agency

  • ENGlobal Corp (NASDAQ:ENG) subsidiary, ENGlobal Government Services, Inc. (EGS), has secured a $4.4 million contract extension from the Defense Logistics Agency to provide Automated Fuel Handling Equipment (AFHE) support at an undisclosed DLA facility.
  • The contract extension consists of eleven monthly release orders valued at ~$0.40 million each.
  • The DLA has issued release orders through April 2022 for a current total of ~$1.6 million.
  • EGS' work on the assignments typically includes technology upgrades and refreshes of existing AFHE systems at multiple U.S. military bases worldwide.
  • Price Action: ENG shares are trading lower by 3.13% at $1.24 on the last check Thursday.
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