Perini Wins $50 Million Award at Andersen Air Force Base, Guam
October 14 2008 - 8:30AM
Business Wire
Perini Corporation (NYSE: PCR), a leading building and civil
construction company, announced today that it was awarded a task
order on September 27, 2008 worth $50.7 million for repairs to the
South Runway at Andersen Air Force Base in Guam. Perini bid the
project under its Sustainment, Restoration & Maintenance
Acquisition Task Order Contract (SATOC) with the Air Force Civil
Engineer Support Agency (AFCESA). The $4 billion SATOC program is
administered by AFCESA at Tyndall AFB in Florida and includes a
pool of 19 contractors who have the opportunity to bid on each task
order request for proposal. This task order at Andersen AFB is a
design-build project for the removal of an existing 11,185 x 200
foot runway and replacement with a new Portland Cement Concrete
runway of the same size. The work also includes the removal of two
existing BAK-12 arresting gear sets, for government refurbishment,
and their subsequent reinstallation, as well as installation of
runway and approach lights, concrete-encased ductbanks and runway
lighting circuits. Perini�s management team for the project was
drawn from company personnel with experience in military airfield
pavement construction, including key personnel from the
newly-acquired Black Construction Corporation (BCC) of Guam. BCC is
a subsidiary of Tutor-Saliba Corporation, which merged with Perini
Corporation the third quarter of 2008. BCC is the largest local
construction company on Guam and has significant recent experience
at Andersen AFB. The team�s lead design firm is Stanley
Consultants, Inc. of Muscatine, Iowa. Concrete supply will be by
Hawaiian Rock Products of Mangilao, Guam. Andersen AFB is the home
of the 36th Wing of the Pacific Air Forces which hosts USAF Active,
Reserve, National Guard and US Naval forces on base. Robert Band,
President and Chief Operating Officer, said: �Perini is pleased
about this new award and the opportunity to re-establish our
presence on Guam, where we have held previous contracts with the
U.S. Navy. Our resources and military construction expertise,
combined with the resources of Black Construction Corporation, the
largest local construction company on the island, provides the U.S.
government with a high degree of assurance for a successful project
outcome.� 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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