PHILADELPHIA and PHOENIX, July 13, 2018 (GLOBE NEWSWIRE) -- Hill International (NYSE: HIL ), the global leader in managing construction risk, announced today that a joint venture led by Hill was awarded a contract for program management services to support the needs of the Phoenix Aviation Department's Capital Improvement Program (CIP). The fee for services will not exceed $47.5 million for this three-year base contract that has a two-year extension option.
The CIP is comprised of a five-year development plan for projects at Phoenix Sky Harbor International Airport, Phoenix Goodyear Airport, and Phoenix Deer Valley Airport. The CIP includes the Terminal 3 Modernization Program, Terminal 4 S1 Concourse Project, and Phoenix Sky Train® Stage 2 Project, as well as other terminal, airfield, parking, cargo, general office, and facilities projects. The CIP management services provided by the Hill/Red Brick JV will augment City staff utilizing a Qualified Vendor List of firms to form a collaborative and integrated CIP management team. In addition to CIP management services, the team will provide estimating, scheduling, and other project management-related services, as required.
Robert Valerio, Vice President and Phoenix Operations Manager for Hill's Project Management Group, said of the program, "Since 1999, Hill has provided specialized services in helping our Phoenix Sky Harbor Airport client manage and control complex programs and projects like the City’s CIP. We will build on our current work for the City to streamline reporting; create opportunities for small, local, and disadvantaged businesses; and maintain PHX’s reputation as America’s Friendliest Airport®.”
Hill International, with more than 3,000 professionals in more than 50 offices worldwide, provides program management, project management, construction management, and other consulting services to clients in a variety of market sectors. 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. Elizabeth J. Zipf, LEED AP BD+C Senior Vice President Hill International, Inc. One Commerce Square 2005 Market Street, 17th Floor Philadelphia, PA 19103 (215) 309-7707 elizabethzipf@hillintl.com
Hill International, Inc. Marco A. Martinez SVP & Interim Chief Financial Officer (215) 309-7951 marcomartinez@hillintl.com
InvestorCom John Glenn Grau President (203) 295-7841 jgrau@investor-com.com
(HIL-G)
