MARLTON, N.J. and PHILADELPHIA, Sept. 29, 2014 (GLOBE NEWSWIRE) -- Hill International (NYSE: HIL ), the global leader in managing construction risk, announced today that it has received a contract from the U.S. Federal Transit Administration to provide project management oversight (PMO) services on major transit capital projects nationwide. The five-year contract has an anticipated value to Hill of approximately $16.0 million.
Each year, the FTA provides nearly $11 billion in financial assistance to help communities build, improve, maintain and operate public transportation systems. As PMO consultant, Hill supplements the FTA's technical staff in assessing grantees' project management and technical capacity to successfully implement the FTA's capital programs. Hill monitors the projects to determine if they are progressing on time, within budget, and in accordance with the grantees' approved plans and specifications, and also provides technical assistance to ensure the success of the projects. Hill has been providing PMO services to the FTA continuously for nearly three decades.
"We understand the importance of the FTA's PMO program in overseeing how federal funds are spent on transit projects nationwide," said Vincent D. Gallagher, P.E., P.P., P.L.S., Senior Vice President and Director of Hill's Federal Transit Group. "We are extremely pleased that the FTA has decided to continue our involvement in the PMO program, which Hill helped pioneer in the 1980s," added Gallagher.
Hill International, with 4,500 employees 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 ninth largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com .
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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
