MARLTON, N.J. and WASHINGTON, June 18, 2014 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that its joint venture with McKissack & McKissack has received a task order contract from the District of Columbia Public Library (DCPL) to provide project management and construction management (PM/CM) services for design, demolition, new construction, renovation, restoration and mixed-use development projects. The contract, which has a one-year base term and four one-year options terms, has an estimated value to the joint venture of approximately $4.8 million if all option years are exercised. McKissack is a 51% partner in the joint venture and Hill is a 49% partner.
Services to be provided under the contract include bid preparation; conducting and reviewing bids; recommending qualified low bidders for contract award; performing and assisting with contract and other document preparation for approval; preparation of construction schedules and maintenance of those schedules throughout the life of a project; enforcing construction quality and making recommendations as to corrective actions; insuring projects stay on schedule, budget and highest quality standards; perform value engineering and issue reports when warranted; and any other such services required.
"We are honored that the McKissack/Hill team has been selected for this assignment," said James E. Koch, Ph.D., P.E., LEED AP, F.SAME, Senior Vice President and Director of Hill's Federal Services Group. "We look forward to working with DCPL on their capital construction program," added Koch.
The District of Columbia Public Library is a vibrant center of activity for residents and visitors in the nation's capital. The library provides environments that invite reading, learning and community discussion and equips people to learn all their lives, to embrace diversity and to build a thriving city. Created by an act of Congress in 1896, DCPL includes a Central Library and 25 neighborhood libraries. Since 2006, DCPL has renovated or rebuilt 15 neighborhood libraries. For more information on DCPL, please visit www.dclibrary.org.
McKissack & McKissack is an architectural, engineering and construction management firm with offices across the country. The organization has grown rapidly on the strength of its work on some of the nation's largest, most complex and highest-profile construction projects, from revered memorials, public spaces and institutions to public housing and education solutions, transportation megaprojects and leading green buildings. McKissack is managing $15 billion in construction and is ranked by Engineering News-Record as one of the top 50 program management and top 100 construction management for-fee firms in the United States. For more information on McKissack, please visit their website at www.mckissackdc.com.
Hill International, with 4,300 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 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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Source:Hill International, Inc.