MARLTON, NJ and NEW YORK - (GlobeNewswire via COMTEX News Network) - March 18, 2010
-- Hill International (NYSE:HIL), the global leader in managing
construction risk, announced today that it has received two separate
contracts to manage the construction of major performing arts centers
on two college campuses in the New York metropolitan region.
The
first contract, from the City University of New York, is to provide
construction management/build services in connection with a new
performing arts center at Brooklyn College in Brooklyn, New York. The
Brooklyn College Theater Complex is comprised of the Whitman and
Gershwin Theaters, built between 1953 and 1955. This new project
includes the partial demolition of the existing Gershwin Theater and
the construction of a new 60,000-square-foot multi-purpose theater,
including music rehearsal space, instructional spaces, theater support
facilities and lobby. The thirty-month contract has a total estimated
value to Hill of approximately $69.0 million, which includes
approximately $7.0 million of management services which will be
provided by Hill and approximately $62.0 million of construction
services which will be provided by subcontractors.
The second
contract, from the State of Connecticut Department of Public Works, is
to provide project management services during the design and
construction of a new fine and performing arts center at Western
Connecticut St
ate University in Danbury, Connecticut. The new $68.0
million facility will have approximately 125,000 square feet and will
house two main performances spaces, a 350-seat concert hall and a
350-seat proscenium theater, as well as instructional and support
facilities. This contract has an estimated value to Hill of
approximately $4.0 million over four years, assuming all options are
exercised.
"Hill is expert at managing these types of
performing arts facilities for higher education clients," said D.
Clarke Pile, P.E., Hill's Senior Vice President and New York Regional
Manager. "We look forward to helping our clients deliver these theater
projects successfully," Pile added.
Hill International, with
2,400 employees in 80 offices worldwide, provides program management,
project management, construction management and construction claims and
consulting services. Engineering News-Record magazine recently ranked
Hill as the 8th largest construction management firm in the United
States.
For more information on Hill, please visit our website at
www.hillintl.com.
The Hill International, Inc. logo is available at h
ttp://www.globenewswire.com/newsroom/prs/?pkgid=5733 Certain
statements contained in this press release may be considered
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, and it is our intent that any
such statements be protected by the safe harbor created thereby. Except
for historical information contained in this press release, the matters
set forth herein including, but not limited to, any projections of
earnings or other financial items; any statements concerning our plans,
strategies and objectives for future operations; and any statements
regarding future economic conditions or performance, are
forward-looking statements. These forward-looking statements are based
on our current expectations, estimates and assumptions and are subject
to certain risks and uncertainties. Although we believe that the
expectations, estimates and assumptions reflected in our
forward-looking statements are reasonable, actual results could differ
materially from those projected or assumed in any of our
forward-looking statements. Important factors that could cause our
actual results, performance and achievements, or industry results to
differ materially from estimates or projections contained in our
forward-looking statements include: modifications and termination of
client contracts; control and operational issues pertaining to business
activities that we conduct on our own behalf or pursuant to joint
ventures with other parties; difficulties we may incur in implementing
our acquisition strategy; the need to retain and recruit key technical
and management personnel; and unexpected adjustments and cancellations
related to our backlog. Additional factors that could cause actual
results to differ materially from our forward-looking statements are
set forth in the reports we have filed with the Securities and Exchange
Commission. We do not intend, and undertake no obligation, to update
any forward-looking statement.
(HIL-G)
This news release was distributed by GlobeNewswire, www.globenewswire.com Source: Hill International, Inc.
Contact: Hill International, Inc.
John P. Paolin,
Vice President of Marketing
and Corporate Communications
(856) 810-6210
johnpaolin@hillintl.comThe Equity Group Inc.
Devin Sullivan, Senior Vice President
(212) 836-9608
dsullivan@equityny.com(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
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