PHILADELPHIA and SAO PAULO, Brazil, Sept. 1, 2015 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today the following major changes at its Brazilian subsidiary Engineering S.A. effective immediately:
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The subsidiary has been renamed Hill International do Brasil S.A.
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Sérgio Luiz da Câmara Falcão has been promoted to Vice President and Brazil Country Manager for Hill's Project Management Group. Falcão will continue to be based out of the company's Sao Paulo, Brazil office. Falcão has 30 years of experience in project management and monitoring for commercial, institutional and retail facilities. Prior to this promotion, Falcão was Executive Director of Operations for the company's Sao Paulo office. He earned degrees in civil engineering and administrative sciences from the Universidade Presbiteriana Mackenzie.
- Hill has acquired an additional ownership stake in the subsidiary, increasing Hill's ownership from approximately 72% to approximately 91%.
"These changes will help us to better manage our Brazilian operations and more fully integrate them with the rest of Hill International," said David L. Richter, Hill's President and Chief Executive Officer. "We expect this will improve our market position in that country and allow us to eliminate significant overhead costs going forward," added Richter.
Hill International, with 4,900 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)