MARLTON, N.J. and WASHINGTON, Oct. 10, 2012 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, has announced that its joint venture with URS Corporation (NYSE:URS) has received a blanket purchase agreement from the U.S. General Services Administration to provide construction management as agent services for the U.S. Department of State's Foreign Affairs Security Training Center (FASTC) project. The five-year agreement has an estimated value to the URS/Hill joint venture of approximately $21.8 million. URS is a 60% partner in the joint venture and Hill is a 40% partner.
The FASTC project will establish a consolidated training center for training in a wide array of law enforcement and security disciplines within the U.S. Department of State for the protection of diplomats and U.S. embassies abroad. Diplomatic security training is currently conducted at up to 19 different geographically separated leased and contracted facilities nationwide. The new FASTC will be a state-of-the-art facility. It is expected to provide training for 8,000-10,000 students per year, including special agents, foreign service officers, selected foreign law enforcement and other personnel.
The URS/Hill joint venture will provide construction management services during the design, construction and commissioning phases of the FASTC project.
"Hill is proud to be partnered with URS to manage construction of a facility that will help enhance the training of law enforcement officials and ultimately improve diplomat and embassy security," said James E. Koch, Ph.D., P.E., LEED AP, F.SAME, Senior Vice President and Director of Hill's Federal Services Group.
Hill International, with 3,300 employees in 110 offices worldwide, provides program management, project management, construction management and construction claims and consulting services. Engineering News-Record magazine recently ranked Hill as the 8th 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 in this press release 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 contained in this press release, 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, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include: modifications and termination of client contracts; control and operational issues pertaining to business activities that we conduct on our own behalf or pursuant to joint ventures with other parties; difficulties we may incur in implementing our acquisition strategy; the need to retain and recruit key technical and management personnel; and unexpected adjustments and cancellations related to our backlog. Additional factors that could cause actual results to differ materially from our forward-looking statements are set forth 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.