Stanley to provide passport services to State Department
Ten-year, $164 million deal allows Stanley to open up two new processing centers; agreement comes on the heels of a succesful IPO; company will also expand workforce by 150; passport demand expected to heat up as new travel restrictions come on line
When it’s good, it’s great. Last month we reported on Arlington, Virginia-based Stanley’s IPO, in which the new stock posted double-digit percentage gains in first-day trading on the NYSE. An increase in government defense and homeland security spending, and greater government reliance on outsourcing, has handsomely benefited Stanley’s forty-year-old business, with its total contract backlog reaching $845 million at the end of March, up from $520 million a year earlier. The firm’s overall win rate for contracts for the twelve months that ended in August was 68 percent.
Now the company can chalk up another contracting victory. Stanley has won a a ten-year, $164 million contract to deliver passport-book personalization services and facilities for the State Department. Not that the company is new to the passport game. Since 1992, Stanley has provided processing services and logistiucs support at seventeen passport centers nationwide, and under the new contract will set up two new “book personalization facilities,” one in Hot Springs, Arkansas, and another in Tuscon, Arizona (if demand warrants.) To assist in overseeing printing, quality control and mailing of U.S. passports and other travel documents, Stanley will also hire 150 new employees over the next year and a half.
-read more in Roseanne Gerin’s Washington Technology report
