MARLTON, N.J. and MADRID, Spain, Dec. 21, 2009 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that a subsidiary company, Gerens Hill International S.A., has received a contract from the Ribera Salud/Asisa/Concessia/FCC Joint Venture to provide technical assistance, review and project control services during construction of the Torrejon de Ardoz Hospital in Madrid, Spain. The 18-month contract has an estimated value to Gerens Hill of approximately EUR 1.1 million ($1.6 million).
The new hospital will consist of a total area of approximately 69,000 square meters (745,000 square feet) including hospital building, industrial building, nursery and parking garage. The project, which should be completed by April 2011, is estimated to cost approximately EUR 69 million ($100 million).
"Gerens Hill has a strong track record in providing construction advisory services to the hospital and healthcare market," said David L. Richter, Hill's President and Chief Operating Officer. "We are honored that we can support the construction of this important project," Richter added.
Hill International, with 2,300 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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