PHILADELPHIA, Aug. 4, 2015 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has received a task order from Region 3 of the U.S. General Services Administration (GSA) to provide construction management and commissioning services during the renovation of the William J. Green, Jr. Federal Building in Philadelphia, Pennsylvania. The potential five-year contract has an estimated value to Hill of approximately $2.4 million.
Under the initial task order, Hill will be managing Phase I of a two-phase repair and alteration project for the approximately 841,000 gross-square-foot, ten-story federal office building located at 600 Arch Street. The project involves the realignment and reconfiguration of tenant space and multiple building system upgrades and replacements. The project will improve the building's overall utilization through the realignment and implementation of various economical workplace solutions and result in an effective long-term housing solution for the Federal Bureau of Investigation, the Drug Enforcement Administration and the Internal Revenue Service, among other tenants. The project has an estimated total cost of approximately $94.1 million.
"We are honored that GSA has once again turned to Hill to help manage one of their most important projects," said Michael V. Griffin, P.E., Senior Vice President and Mid-Atlantic Regional Manager for Hill's Project Management Group.
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.
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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
(215) 309-7710
johnpaolin@hillintl.com
The Equity Group Inc.
Devin Sullivan
Senior Vice President
(212) 836-9608
dsullivan@equityny.com
(HIL-G)