PM Connect: Project Management Press Releases
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Tuesday, April 15, 2008
URS Awarded Engineering, Procurement and Construction Management Contract with PolyMet Mining
Three-Year Contract Valued at Approximately $25 Million to URS
SAN FRANCISCO, CA - (BUSINESS WIRE) - April 14, 2008 -- URS Corporation (NYSE: URS) today announced that the Company's Washington Division has been awarded a contract by PolyMet Mining Corp. to provide engineering, procurement and construction management services for new processing facilities at PolyMet's mining project in northeastern Minnesota. The cost-reimbursable contract, which has a value of approximately $25 million to URS, is expected to run for three years.
The mining project involves a copper-nickel-precious metals ore body and the nearby Erie Plant with associated crushing, grinding and conveyance systems. The site is located near Hoyt Lakes in the established Mesabi Iron Range mining district, which is approximately 70 miles north of Duluth, Minn. URS' Washington Division will support new chemical processing facilities, including a hydrometallurgical plant, solvent extraction/electrowinning facilities and a flotation plant, all of which are being added at the Erie Plant site. Certain parts of the existing infrastructure also will be upgraded. Detailed engineering and procurement activities are under way in preparation for the start of field construction in the fall of 2008.
Commenting on the contract award, Tom Zarges, President of URS' Washington Division, said: "We are very pleased to have been awarded this significant assignment and look forward to working with PolyMet in the years ahead. We have a long history of supporting all aspects of surface mining operations, both domestically and internationally, and we anticipate a successful collaboration with PolyMet on this important project."
URS Corporation (NYSE: URS) is a leading provider of engineering, construction and technical services for public agencies and private sector companies around the world. The Company offers a broad range of planning, engineering and architectural design, environmental, construction, program and construction management, systems integration, operations and maintenance, management and a wide range of specialized technical services for the U.S. federal government, state and local government agencies, Fortune 500 companies and other multinational corporations. URS provides services for transportation, hazardous waste, industrial infrastructure and process, petrochemical, general building, water/wastewater, military facilities and equipment platforms, and defense and security programs. Headquartered in San Francisco, the Company operates through three divisions: the URS Division, the EG&G Division and the Washington Division. URS Corporation has approximately 56,000 employees in a network of offices in more than 30 countries (www.urscorp.com).
Forward-Looking Statements
Statements contained in this press release that are not historical facts may constitute forward-looking statements, including statements relating to the future value and performance of the PolyMet mining contract as well as future economic and industry conditions. The Company believes that its expectations are reasonable and are based on reasonable assumptions. However, such forward-looking statements by their nature involve risks and uncertainties. We caution that a variety of factors could cause the Company's business and financial results to differ materially from those expressed or implied in the Company's forward-looking statements. These factors include, but are not limited to: an economic downturn; changes in the Company's book of business; the Company's integration of the Washington Group International, Inc.; the Company's ability to make accurate estimates and control costs; the Company's and its partners' ability to bid on, win, perform and renew contracts and projects; the Company's dependence on subcontractors and suppliers; customer payment defaults; availability of bonding and insurance; environmental liabilities; liabilities for pending and future litigation; the impact of changes in regulations and laws; industry competition; the Company's ability to attract and retain key individuals; employee, agent and partner misconduct; terrorist and natural disaster risks; the Company's relationships with its labor unions; the Company's ability to protect its intellectual property rights; and other factors discussed more fully in the Company's Form 10-K for the year ended December 28, 2007, as well as in other reports filed from time to time with the Securities and Exchange Commission. These forward-looking statements represent only the Company's current intentions, beliefs or expectations, and any forward-looking statement speaks only as of the date on which it was made. The Company assumes no obligation to revise or update any forward-looking statements.
SOURCE: URS Corporation
URS Corporation
H. Thomas Hicks, 415-774-2700
Vice President & Chief Financial Officer
or
Sard Verbinnen & Co
Hugh Burns / Jamie Tully / Jane Simmons, 212-687-8080
SAN FRANCISCO, CA - (BUSINESS WIRE) - April 14, 2008 -- URS Corporation (NYSE: URS) today announced that the Company's Washington Division has been awarded a contract by PolyMet Mining Corp. to provide engineering, procurement and construction management services for new processing facilities at PolyMet's mining project in northeastern Minnesota. The cost-reimbursable contract, which has a value of approximately $25 million to URS, is expected to run for three years.
The mining project involves a copper-nickel-precious metals ore body and the nearby Erie Plant with associated crushing, grinding and conveyance systems. The site is located near Hoyt Lakes in the established Mesabi Iron Range mining district, which is approximately 70 miles north of Duluth, Minn. URS' Washington Division will support new chemical processing facilities, including a hydrometallurgical plant, solvent extraction/electrowinning facilities and a flotation plant, all of which are being added at the Erie Plant site. Certain parts of the existing infrastructure also will be upgraded. Detailed engineering and procurement activities are under way in preparation for the start of field construction in the fall of 2008.
Commenting on the contract award, Tom Zarges, President of URS' Washington Division, said: "We are very pleased to have been awarded this significant assignment and look forward to working with PolyMet in the years ahead. We have a long history of supporting all aspects of surface mining operations, both domestically and internationally, and we anticipate a successful collaboration with PolyMet on this important project."
URS Corporation (NYSE: URS) is a leading provider of engineering, construction and technical services for public agencies and private sector companies around the world. The Company offers a broad range of planning, engineering and architectural design, environmental, construction, program and construction management, systems integration, operations and maintenance, management and a wide range of specialized technical services for the U.S. federal government, state and local government agencies, Fortune 500 companies and other multinational corporations. URS provides services for transportation, hazardous waste, industrial infrastructure and process, petrochemical, general building, water/wastewater, military facilities and equipment platforms, and defense and security programs. Headquartered in San Francisco, the Company operates through three divisions: the URS Division, the EG&G Division and the Washington Division. URS Corporation has approximately 56,000 employees in a network of offices in more than 30 countries (www.urscorp.com).
Forward-Looking Statements
Statements contained in this press release that are not historical facts may constitute forward-looking statements, including statements relating to the future value and performance of the PolyMet mining contract as well as future economic and industry conditions. The Company believes that its expectations are reasonable and are based on reasonable assumptions. However, such forward-looking statements by their nature involve risks and uncertainties. We caution that a variety of factors could cause the Company's business and financial results to differ materially from those expressed or implied in the Company's forward-looking statements. These factors include, but are not limited to: an economic downturn; changes in the Company's book of business; the Company's integration of the Washington Group International, Inc.; the Company's ability to make accurate estimates and control costs; the Company's and its partners' ability to bid on, win, perform and renew contracts and projects; the Company's dependence on subcontractors and suppliers; customer payment defaults; availability of bonding and insurance; environmental liabilities; liabilities for pending and future litigation; the impact of changes in regulations and laws; industry competition; the Company's ability to attract and retain key individuals; employee, agent and partner misconduct; terrorist and natural disaster risks; the Company's relationships with its labor unions; the Company's ability to protect its intellectual property rights; and other factors discussed more fully in the Company's Form 10-K for the year ended December 28, 2007, as well as in other reports filed from time to time with the Securities and Exchange Commission. These forward-looking statements represent only the Company's current intentions, beliefs or expectations, and any forward-looking statement speaks only as of the date on which it was made. The Company assumes no obligation to revise or update any forward-looking statements.
SOURCE: URS Corporation
URS Corporation
H. Thomas Hicks, 415-774-2700
Vice President & Chief Financial Officer
or
Sard Verbinnen & Co
Hugh Burns / Jamie Tully / Jane Simmons, 212-687-8080
