MARLTON, N.J. and WASHINGTON, DC, Feb. 18, 2015 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has received an indefinite delivery/indefinite quantity (ID/IQ) contract from the U.S. General Services Administration (GSA) to provide construction management services to GSA's Region 3. The contract, which consists of a one-year base period and four one-year option periods, has an estimated value to Hill of approximately $30.0 million if all option years are exercised.
The contract will be used to support projects on an as-needed basis within GSA's Region 3, or Mid-Atlantic Region, which covers Virginia, Maryland, Delaware, West Virginia, Pennsylvania and Southern New Jersey. GSA has a wide variety of design and construction projects within this region involving both new construction and/or renovations of existing buildings, some of which are historic properties. The building types include federal office buildings, federal courthouses, border stations, laboratories, warehouses and other types of real property.
"We are honored to have received this contract from Region 3," said James E. Koch, Ph.D., P.E., LEED AP, F.SAME, Senior Vice President and Director of Hill's Federal Services Group. "GSA is a long-term client and we look forward to continuing to support their construction program," added Koch.
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.
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Source:Hill International, Inc.