LONDON (dpa-AFX) - Leidos Holdings, Inc. (LDOS), a provider of services and solutions to governments, Wednesday announced that it has received a one-year extension on its Logistics Commodities and Services Transformation from the Ministry Of defense or MOD to support critical logistics of the UK armed forces through June 2029.
Since 2015, Leidos has served as the prime contractor for LCST, providing end-to-end logistics support, including, managing more than 70,000 commodity NATO Stock numbers, supporting distribution to more than 600 locations worldwide, delivering an estimated £400 million in benefits to the MOD, managing the £83 million Defense Fulfilment Centre at MOD Donnington.
LCST has helped modernize defense logistics by improving inventory visibility and expanding the use of data across the supply chain. The program has also supported the MOD through periods of significant demand, including the COVID-19 pandemic, global supply chain disruption and urgent operational requirements related to Ukraine, the company said in a statement.
On Tuesday, shares closed at $119.70, down 1.56% on the New York Stock Exchange.
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