PHILADELPHIA and FRANKFURT, Germany and ISTANBUL, Turkey, Sept. 22, 2016 (GLOBE NEWSWIRE) -- Hill International (NYSE: HIL ), the global leader in managing construction risk, announced today that it has received two contracts from Blackstone to manage major renovation projects in Germany and Turkey.
Hill was retained by Blackstone to manage the restoration of Messeturm Tower in Frankfurt, Germany. Messeturm Tower is a 63-story, 62,300-square-meter (670,500-square-foot) commercial office tower, the second tallest building in Germany and the third tallest building in the European Union. Hill is providing project appraisal services and developing a project implementation plan during phase I of the project and acting as the program, project and cost manager responsible for implementation of works during phase II of the project. The project entails various capital expenditure measures for defensive maintenance, tenant improvement fit-out and general building improvements.
Hill was also retained by Multi-Corporation, Blackstone’s retail affiliate, to provide project and construction management services in connection with the renovation of eleven shopping centers throughout Turkey. Multi-Corporation is a leading owner, manager, developer and redeveloper of high-quality shopping centers across Europe and manages more than 130 shopping centers accommodating more than 400 million visitors per year.
“We are very excited to assist Blackstone with these important renovation projects,” said Raouf S. Ghali, Hill’s President and Chief Operating Officer. “We have full confidence that our team will deliver and exceed all of their expectations,” added Ghali.
Hill International, with 4,500 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 eighth 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, including that unfavorable global economic conditions may adversely impact our business, our backlog may not be fully realized as revenue and our expenses may be higher than anticipated. 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 (215) 309-7710 johnpaolin@hillintl.com
The Equity Group Inc. Devin Sullivan Senior Vice President (212) 836-9608 dsullivan@equityny.com
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