MARLTON, N.J. and DENVER, June 10, 2014 (GLOBE NEWSWIRE) -- Hill International (NYSE: HIL ), the global leader in managing construction risk, announced today that its joint venture with Triunity Engineering & Management has been awarded a contract by the Regional Transportation District (RTD) of the State of Colorado to provide construction management support consultant services in connection with RTD's FasTrack Program. The contract, which has a six-year base term plus four one-year option terms, has an estimated value to the joint venture of approximately $15.2 million during the base term. Triunity is a 51% partner in the joint venture and Hill is a 49% partner.
Pursuant to this contract, the Triunity/Hill team will function as an extension of RTD's staff by providing a range of construction management services on various projects, possibly including on the North Metro Corridor, Southeast Corridor, Southwest Corridor, Central Corridor and any remaining future construction management services on FasTracks and base RTD system projects.
"We are honored that the Triunity/Hill team has been selected for this major assignment and we look forward to supporting RTD's expansion program," said Thomas J. Spearing III, President of Hill's Project Management Group (Americas).
Triunity Engineering & Management provides big company talent with a small company spirit of responsiveness and innovation. Founded in 2003, Triunity's experienced professionals provide customer-focused services in electrical/controls engineering, project controls, and construction management. Headquartered in Denver and with offices in Boston and Seattle, Triunity is a small business leader in meeting the needs of clients in the public infrastructure and federal markets. For more information on Triunity, please visit their website at www.triunityeng.com .
Hill International, with 4,200 professionals in 100 offices worldwide, provides program management, project management, construction management, construction claims and other consulting services primarily to the buildings, transportation, environmental, energy and industrial markets. Engineering News-Record magazine recently ranked Hill as the 9th largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com .
Certain statements contained herein 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, the matters set forth herein including, but not limited to, any projections of revenues, 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 to differ materially from estimates or projections contained in our forward-looking statements are set forth in the Risk Factors section and elsewhere 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.
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Hill International, Inc. John P. Paolin Senior Vice President of Marketing and Corporate Communications (856) 810-6210 The Equity Group Inc. Devin Sullivan Senior Vice President (212) 836-9608
