MARLTON, N.J., Jan. 5, 2015 (GLOBE NEWSWIRE) -- Hill International (NYSE: HIL ), the global leader in managing construction risk, announced today that it has received a contract from the New Jersey Turnpike Authority (NJTA) to provide construction management and inspection services in support of NJTA's Facilities Improvement Program. The four-year contract has an estimated value to Hill of approximately $33.7 million.
This new contract is an expansion of the company's current role, as Hill has been providing program management services for the Facilities Improvement Program since 2012.
The principal goal of the program is to bring the Authority's facilities on both the New Jersey Turnpike and the Garden State Parkway roadways into a state of good repair. Many of the Authority's facilities date back 60 years to the opening of the two roadways and are in need of replacement or upgrades. The program is comprised of five main components, namely: (1) the construction of four State Police stations, (2) the rehabilitation of toll facilities on the New Jersey Turnpike at 23 locations, (3) upgrades to 16 Maintenance Districts located on both the Garden State Parkway and New Jersey Turnpike, (4) the construction of a Backup Traffic/Data Management Center, and (5) the construction of a Central Inventory Facility.
"NJTA is eager to quickly and effectively address all needed Turnpike and Parkway repairs," said Michael V. Griffin, P.E., Senior Vice President and Mid-Atlantic Regional Manager for Hill's Project Management Group. "We are honored that they have once again turned to Hill to help manage this important program," added Griffin.
Hill International, with 4,600 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 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.
| Hill International, Inc. |
| John P. Paolin |
| Senior Vice President of Marketing and |
| Corporate Communications |
| (856) 810-6210 |
| johnpaolin@hillintl.com |
| The Equity Group Inc. |
| Devin Sullivan |
| Senior Vice President |
| (212) 836-9608 |
| dsullivan@equityny.com |
(HIL-G)
