Parsons Corporation (PSN) just landed another big defense contract, this time worth over $100 million. The company announced Friday that Nammo has tapped them to provide design and program/construction management services for a new rocket motor facility in Perry, Florida.

What's the Project About?

This two-year effort is part of the Department of War's Acquisition Transformation Strategy, which aims to ramp up U.S. munitions production, strengthen supply chain resilience, and get critical capabilities into the field faster. Nammo's Perry site is already a hub for munitions and pyrotechnics, supplying energetic systems to the Department of War.

The groundbreaking happened back in October, marking an important milestone in expanding the U.S. munitions industrial base.

Jon Moretta, president of Engineered Systems for Parsons, said, "As the Department of War revitalizes the Defense Industrial Base, we are proud to leverage our technical design, engineering, and PM/CM expertise to accelerate production and strengthen supply chain resilience. By delivering increased capacity at the speed of combat, we ensure the warfighter has what they need when they need it."

Parsons on a Roll

The company has been stacking up contract wins lately. Earlier this week, Parsons secured a seat on the U.S. Air Force Comprehensive Construction & Engineering MATOC. That contract, managed by the Air Force Civil Engineering Center (AFCEC), has a $15 billion ceiling and supports readiness and resilience of Air Force and Department of War facilities worldwide.

On top of that, the firm also locked in an $88 million single-award task order to support base air defense systems at the U.S. Air Forces in Europe – Air Forces Africa (USAFE-AFAFRICA) at Ramstein Air Base in Germany.

PSN Price Action: Parsons shares were up 1.17% at $61.26 during premarket trading on Friday.