1,700 Employees Form Alion Science and Technology

Employees of the IIT Research Institute have bought out the defense technology portion of the non-profit organization using an ESOP (employee stock ownership plan). The 1,700 employees now own 100% of the McLean, VA based company. The new company, named Alion Science and Technology, provides research and development work in a number of defense and security areas and was recently one of three contractors hired by the federal government on a major counter-terrorism project. That contract alone could be worth $690 million.