Perini Continues Design-Build Force Protection Work in Iraq with New Task Orders Worth $170 Million
September 23 2008 - 8:00AM
Business Wire
Perini Corporation (NYSE: PCR), a leading building and civil
construction company, announced today that it has been awarded new
task orders and additions to existing task orders from the U.S.
Army Corps of Engineers (USACE) for work in Iraq worth
approximately $170 million. The projects were all competitively bid
under an existing contract to provide design-build and construction
related services within the Central Command (CENTCOM) Area of
Operations. Perini received three new task orders on September 15,
2008 worth a total of $98.6 million for design and construction of
Overhead Coverage Systems at military bases throughout Iraq. The
three task orders represent projects for construction in 2009 and
will be administered by the three geographic districts of the USACE
Gulf Region Division in Iraq. Earlier this year, Perini received a
$6.8 million task order for an Overhead Coverage System for a new
dining facility under construction in the Baghdad area, as well as
a $35.7 million increase to an existing task order for similar
Overhead Coverage Systems. Perini has been the principal
design-builder for the Overhead Coverage Systems program since it
began in 2005. The Company has worked closely with the USACE
Transatlantic Programs Center; Engineer, Research and Development
Center (ERDC); and the Protective Design Center (PDC) to develop
the designs for blast resistant structures to cover existing
facilities in high-risk areas. In addition to the Overhead Coverage
System projects, on August 14, 2008 Perini was awarded a task order
valued at $28.5 million for design and construction of a large
administration building at Victory Base Camp in Iraq. The 62,159
square foot facility will be a pre-engineered building with a
protective blast roof, incorporating some of the same design
features that were developed for the Overhead Coverage System. This
project includes site improvements, utilities, and supporting
facilities for meeting minimum Department of Defense
anti-terrorism/force protection standards. Robert Band, President
and Chief Operating Officer, said: �Perini is proud of its long
history of providing security-related construction at U.S.
government facilities around the world. We look forward to
continuing to provide protection for U.S. military and government
personnel serving in Iraq.� Perini�s team for CENTCOM task orders
includes Tetra Tech, Inc. of Pasadena, CA as the lead design firm,
and Butler Building Company of Kansas City, MO for pre-engineered
building components. About Perini Corporation Perini Corporation is
a leading construction services company offering diversified
general contracting, construction management and design/build
services to private clients and public agencies throughout the
world. We have provided construction services since 1894 and have
established a strong reputation within our markets by executing
large complex projects on time and within budget while adhering to
strict quality control measures. We offer general contracting,
pre-construction planning and comprehensive project management
services, including the planning and scheduling of the manpower,
equipment, materials and subcontractors required for a project. We
also offer self-performed construction services including sitework,
concrete forming and placement and steel erection. We are known for
our hospitality and gaming industry projects, sports and
entertainment, educational, transportation, healthcare, biotech,
pharmaceutical and high-tech facilities, as well as large and
complex civil construction projects and construction management
services to U.S. military and government agencies. The statements
contained in this Release that are not purely historical are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934, including without limitation, statements regarding the
Company�s expectations, hopes, beliefs, intentions or strategies
regarding the future. These forward-looking statements are based on
the Company�s current expectations and beliefs concerning future
developments and their potential effects on the Company. There can
be no assurance that future developments affecting the Company will
be those anticipated by the Company. These forward-looking
statements involve a number of risks, uncertainties (some of which
are beyond the control of the Company) or other assumptions that
may cause actual results or performance to be materially different
from those expressed or implied by such forward-looking statements.
These risks and uncertainties include, but are not limited to, the
Company's ability to successfully and timely complete construction
projects; the Company�s ability to convert backlog into revenue;
the potential delay, suspension, termination, or reduction in scope
of a construction project; the continuing validity of the
underlying assumptions and estimates of total forecasted project
revenues, costs and profits and project schedules; the outcomes of
pending or future litigation, arbitration or other dispute
resolution proceedings; the availability of borrowed funds on terms
acceptable to the Company; the ability to retain certain members of
management; the ability to obtain surety bonds to secure its
performance under certain construction contracts; possible labor
disputes or work stoppages within the construction industry;
changes in federal and state appropriations for infrastructure
projects; possible changes or developments in worldwide or domestic
political, social, economic, business, industry, market and
regulatory conditions or circumstances; and actions taken or not
taken by third parties, including the Company�s customers,
suppliers, business partners, and competitors and legislative,
regulatory, judicial and other governmental authorities and
officials. The Company undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, except as may be
required under applicable securities laws.
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