L3 protesting Army contract loss

NEW YORK - L3 Technologies announced Sept. 25 that it has filed a protest with the Government Accountability Office (GAO) related to the selection of an aviation maintenance and support contract at Fort Rucker, Ala. L3 has been the contractor since 2003. “We are convinced our proposal represents the best value to both the military and the U.S. taxpayers,” said Christopher E. Kubasik, L3’s President/CEO. “We look forward to the GAO’s review.” Mark Von Schwarz, L3’s senior VP and president of the Aerospace Systems business segment, added that “L3 remains fully committed to serving the U.S. Army and Air Force at Fort Rucker, and the protest will not affect current operations.” Despite the apparent loss, the company still expects to record an impairment charge during the quarter ending Sept. 29, 2017, for a substantial portion of the Vertex Aerospace business goodwill asset of $187 million. The company is assessing the impact of the re-competition loss on the fair value of Vertex, which will ultimately determine the goodwill impairment charge. L3 Technologies employs some 38,000 people worldwide. (Source: Digital Journal 09/25/17) Gulf Coast Note: L3 has regional facility sites at the Army Fleet Support center at Fort Rucker; Crestview, Fla., Aerospace, and Vertex Aerospace in Madison, Miss.