MARLTON, N.J. and NEW YORK, March 18, 2010 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has received two separate contracts to manage the construction of major performing arts centers on two college campuses in the New York metropolitan region.
The first contract, from the City University of New York, is to provide construction management/build services in connection with a new performing arts center at Brooklyn College in Brooklyn, New York. The Brooklyn College Theater Complex is comprised of the Whitman and Gershwin Theaters, built between 1953 and 1955. This new project includes the partial demolition of the existing Gershwin Theater and the construction of a new 60,000-square-foot multi-purpose theater, including music rehearsal space, instructional spaces, theater support facilities and lobby. The thirty-month contract has a total estimated value to Hill of approximately $69.0 million, which includes approximately $7.0 million of management services which will be provided by Hill and approximately $62.0 million of construction services which will be provided by subcontractors.
The second contract, from the State of Connecticut Department of Public Works, is to provide project management services during the design and construction of a new fine and performing arts center at Western Connecticut State University in Danbury, Connecticut. The new $68.0 million facility will have approximately 125,000 square feet and will house two main performances spaces, a 350-seat concert hall and a 350-seat proscenium theater, as well as instructional and support facilities. This contract has an estimated value to Hill of approximately $4.0 million over four years, assuming all options are exercised.
"Hill is expert at managing these types of performing arts facilities for higher education clients," said D. Clarke Pile, P.E., Hill's Senior Vice President and New York Regional Manager. "We look forward to helping our clients deliver these theater projects successfully," Pile added.
Hill International, with 2,400 employees in 80 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 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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