MARLTON, N.J. and LOS ANGELES, May 24, 2012 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has received a contract from the Los Angeles County Metropolitan Transportation Authority (Metro) to provide program management support and implementation services. The contract, which has a three-year base term and two one-year option terms, has an estimated value to Hill of approximately $16.1 million.
In November 2008, Measure R passed providing Metro with a potential $40 billion in revenue to improve transportation and transit in the Los Angeles basin. Measure R funds, which will be provided through a ½¢ increase in sales tax, will allow Metro to fund a number of transit and highway projects over the 30-year period that the measure is in effect. To accelerate key projects, Metro's Board directed Metro leadership to prioritize a set of projects for delivery within 10 years. These projects are identified in the Measure R 30/10 Transit and Accelerated Highway Program.
In support of Metro's aggressive 30/10 program, Hill will be providing program management support services including enterprise-wide program management activities (such as process improvement or standardization efforts) as well as project-level support activities (such as cost estimating and project controls). Enterprise-wide program management activities include the establishment of best practices for expediting project delivery in coordination with internal interdepartmental management, outside agencies and consultants. This also includes establishing training needs for Metro project managers and developing a project manager training program orientated toward the Metro environment. Finally, these activities also include support for enterprise-wide tools, such as the Project Management Information System (PMIS).
"We are honored to have been selected by Metro to help support and implement their long-term program management efforts," said John K. Skoury, P.E., Senior Vice President in charge of Hill's rail and transit practice in California.
Hill International, with 3,200 employees in 110 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.
The Hill International, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5733
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 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, 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.
(HIL-G)