PHILADELPHIA & WASHINGTON, April 25, 2016 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has received a contract from the National Institutes of Health (NIH) to provide construction quality management support services on behalf of the National Cancer Institute (NCI). The business cost for all task orders awarded during the one-year Blanket Purchase Agreement (BPA) with four additional one-year option periods has an estimated potential value to Hill of approximately $20.0 million.
The NCI’s Frederick, Maryland campus is a community of more than 2,800 government- and contractor-employed biomedical researchers, laboratory technicians and support staff. The Frederick campus is comprised of several cancer research facilities including the 68-acre campus at Fort Detrick, the Advanced Technology Research Facility, the Vaccine Pilot Project, and others. It is also the home of the Frederick National Laboratory for Cancer Research, the only federally-funded research and development center dedicated exclusively to biomedical research to address the most difficult challenges in cancer prevention and treatment.
The NCI’s Office of Space and Facilities Management is embarking on a wide variety of refurbishment projects at the Frederick campus. In support of these projects, Hill will be providing pre-planning, programming, design management, design review, procurement support, construction management, commissioning, and post-construction support on an as-needed basis.
“Hill has a long history helping NIH successfully deliver construction projects,” said Edward C. Newman III, P.E., CCM, LEED AP, Senior Vice President and Washington, DC Regional Manager. “We are confident that our team will be equally successful delivering the Frederick Campus projects,” added Newman.
Hill International, with 4,800 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 seventh 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.
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