Benzinga | Sep 17, 2021 02:09PM EDT

US Navy Selects WSM Pacific SIOP JV For West Coast Shipyard Infrastructure Optimization

* The U.S. Navy's Naval Facilities Engineering System Command (NAVFAC) Pacific has selected the WSM Pacific SIOP Joint Venture, comprising global engineering and design firms Stantec Inc. (NYSE:STN), WSP USA, and Moffatt & Nichol, to lead multidiscipline architect-engineer services as part of a five-year, $500 million single-award IDIQ contract.

* The contract will directly support the U.S. Navy's Shipyard Infrastructure Optimization Program (SIOP), a comprehensive effort to modernize infrastructure at four naval shipyards.

* The WSM Pacific SIOP JV team will develop design solutions for SIOP's modernization program, including critical dry dock projects, restoring and optimally placing shipyard facilities, and replacing outdated capital equipment.

* Price Action: STN shares are trading lower by 0.49% at $50.61 on the last check Friday.