MARLTON, N.J. and NEW YORK, April 6, 2015 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has received a contract from the City University Construction Fund (CUCF) on behalf of the City University of New York (CUNY) to provide on-call construction management/build services in connection with various university construction projects. The three-year contract has an estimated value to Hill of $50.0 million, which includes approximately $10.0 million of management services which will be provided by Hill and approximately $40.0 million of construction services which will be provided by subcontractors.
Most project assignments are anticipated to range from $3 million to $30 million, and will involve the rehabilitation, construction, renovation or expansion of CUNY sites and facilities. CUNY consists of 24 institutions located throughout the five boroughs of New York City that include 303 buildings on 27 million square feet of space with classrooms, offices, computer centers, libraries, laboratories, gymnasiums, theatres, greenhouses and many other features. CUCF provides facilities for CUNY and supports the university's educational purposes. CUNY is the largest municipal college system and the third largest university in the nation.
"CUNY continues to implement bold, strategic measures to position itself among the most highly regarded and respected public institutions for higher education," said John Milano, P.E., Senior Vice President and Northeast Regional Manager for Hill's Project Management Group. "We are proud to be part of their facilities construction program," added Milano.
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.
Hill International, Inc.
John P. Paolin
Senior Vice President of Marketing and
Corporate Communications
(856) 810-6210
johnpaolin@hillintl.com
The Equity Group Inc.
Devin Sullivan
Senior Vice President
(212) 836-9608
dsullivan@equityny.com
(HIL-G)