BALTIMORE, MD--(Marketwired - Sep 24, 2014) - Algeco/Scotsman Holding S.à r.l. (together with its subsidiaries, "Algeco Scotsman"), the leading global business services provider of modular space, secure portable storage solutions and remote workforce accommodations, today announced that its subsidiary, Target Logistics Management, LLC ("Target Logistics"), a global provider of remote workforce accommodations, has entered into a Lease and Services Agreement with Corrections Corporation of America ("CCA"), America's largest owner of partnership correctional and detention facilities, under which Target Logistics will sublease the South Texas Family Residential Center in Dilley, Texas to CCA and will provide accommodations and food services to up to 2,400 residents at the facility.
Target Logistics will sublease the facility to CCA and provide these services in connection with CCA's separately announced agreement relating to the facility under an amended Intergovernmental Service Agreement between the City of Eloy and Immigration and Customs Enforcement ("ICE"). ICE has been tasked with assisting our country with an unprecedented humanitarian crisis by providing appropriate residential care centers for families. The facility will provide residents with an open and safe environment which will offer medical services, food services, educational programs, indoor and outdoor recreational activities, life skills training, counseling, group interaction, and access to religious and legal services.
The Lease and Services Agreement has a term of up to four years that can be extended by CCA. Construction and site work are expected to commence in the near future.
Cautionary Notice Regarding Forward-Looking Statements
This press release may contain forward-looking statements, which reflect Algeco Scotsman's expectations regarding its future operational and financial performance. Although any forward-looking statements contained in this press release reflect management's current beliefs based upon information currently available to management and upon assumptions which management believes to be reasonable, actual results may differ materially from those stated in or implied by these forward-looking statements. A number of factors could cause actual results, performance or achievements to differ materially from the results expressed or implied in any forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on any forward-looking statements. Except as required by law, Algeco Scotsman undertakes no obligation, and specifically declines any obligation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About Algeco Scotsman
Algeco Scotsman is the leading global business services provider focused on modular space, secure portable storage solutions, and remote workforce accommodation management. Headquartered in Baltimore, Algeco Scotsman has operations in 37 countries with a modular fleet of over 300,000 units. The company operates as Williams Scotsman and Target Logistics in North America, Algeco in Europe, Elliott in the United Kingdom, Ausco in Australia, Portacom in New Zealand, Eurobras in Brazil and Algeco Chengdong in China.
About Target Logistics
Target Logistics, an Algeco Scotsman company, operates in some of the world's most remote environments supporting oil, gas, construction and mining operations; government agencies; disaster relief; and large-scale events with temporary workforce lodging, mobile crew camps and extended-stay hotels. Named by Inc. magazine in 2012 and 2013 as one of "America's Fastest Growing Private Companies," the company has administrative headquarters in Boston; operational headquarters in The Woodlands, Texas; and offices in Williston, N.D.; Denver; and Edmonton, Alberta. Visit www.TargetLogistics.net or call (800) 832-4242.
Contact Information:
Investor Relations Contact:
Scott Shaughnessy
Algeco Scotsman
410-933-5921
Scott.Shaughnessy@as.willscot.com