PHILADELPHIA and LOS ANGELES, May 31, 2016 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has received a contract extension from the Los Angeles County Metropolitan Transportation Authority (Metro) to continue providing program management support and implementation services. The one-year contract extension has an estimated value to Hill of approximately $6.2 million.
In November 2008, Measure R passed providing Metro with a potential $36 billion in revenue to improve transportation in the Los Angeles basin. Measure R funds, which were provided through a ½¢ increase in sales tax, will allow Metro to fund a number of transit and highway projects over the 30-year period that the measure is in effect.
In support of Metro’s Measure R program, Hill has been providing program management support services including enterprise-wide program management activities (such as process improvement or standardization efforts) as well as project-level support activities (such as cost estimating and project controls). Enterprise-wide program management activities include the establishment of best practices for expediting project delivery in coordination with internal interdepartmental management, outside agencies and consultants. This also includes establishing training needs for Metro project managers and developing a project manager training program orientated toward the Metro environment. Finally, these activities also include support for enterprise-wide tools, such as the Project Management Information System (PMIS).
“The fact that Metro has extended our contract is a reflection of the outstanding job by our team on these important projects,” said John K. Skoury, P.E., Senior Vice President in charge of Hill’s rail and transit practice in California. “We thank Metro for its continued trust in Hill,” added Skoury.
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 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.
Hill International, Inc.
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Source:Hill International, Inc.