GEOAmey Joint Venture Signs Court Custody and Prisoner Escort Services Contract in Scotland
March 29 2018 - 6:55AM
Business Wire
The GEO Group (NYSE: GEO) (“GEO”) announced today that
its transportation joint venture in the United Kingdom, GEO Amey
PECS Ltd. (“GEOAmey”) has signed a contract with the Scottish
Prison Service for the provision of court custody and prisoner
escort services in Scotland. The contract will have a base term of
eight years effective January 26, 2019 with a renewal option period
of four years and is expected to have an annual revenue value of
approximately $39 million.
Under the contract, GEOAmey is expected to employ approximately
650 professionals who will be responsible for 170 vehicles and
approximately 170,000 annual prisoner movements in Scotland,
delivering services to 60 courts, 15 prisons, and 90 police custody
units.
George C. Zoley, Chairman and Chief Executive Officer of GEO,
said, “The selection of our GEOAmey joint venture for the provision
of court custody and prisoner escort services in Scotland marks an
important milestone for our company. The signing of this important
contract is indicative of the high quality transportation services
our joint-venture has been providing in England and Wales since
2011. We look forward to growing our successful public-private
partnerships across the United Kingdom.”
About The GEO Group
The GEO Group (NYSE: GEO) is the first fully integrated equity
real estate investment trust specializing in the design, financing,
development, and operation of correctional, detention, and
community reentry facilities around the globe. GEO is the world's
leading provider of diversified correctional, detention, community
reentry, electronic monitoring, and secure transportation services
to government agencies worldwide with operations in the United
States, Australia, South Africa, and the United Kingdom. GEO's
worldwide operations include the ownership and/or management of 141
facilities totaling approximately 96,000 beds, including projects
under development, with a growing workforce of approximately 23,000
professionals.
This press release contains forward-looking statements regarding
future events and future performance of GEO that involve risks and
uncertainties that could materially affect actual results,
including statements regarding estimated earnings, revenues and
costs and our ability to maintain growth and strengthen contract
relationships. Factors that could cause actual results to vary from
current expectations and forward-looking statements contained in
this press release include, but are not limited to: (1) GEO’s
ability to successfully pursue further growth and continue to
enhance shareholder value; (2) GEO’s ability to access the capital
markets in the future on satisfactory terms or at all; (3) risks
associated with GEO’s ability to control operating costs associated
with contract start-ups; (4) GEO’s ability to timely open
facilities as planned, profitably manage such facilities and
successfully integrate such facilities into GEO’s operations
without substantial costs; (5) GEO’s ability to win management
contracts for which it has submitted proposals and to retain
existing management contracts; (6) GEO’s ability to obtain future
financing on acceptable terms; (7) GEO’s ability to sustain
company-wide occupancy rates at its facilities; and (8) other
factors contained in GEO’s Securities and Exchange Commission
filings, including the forms 10-K, 10-Q and 8-K reports.
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version on businesswire.com: https://www.businesswire.com/news/home/20180329005150/en/
The GEO GroupPablo E. Paez, 1-866-301-4436Executive Vice
President, Corporate Relations
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