Pernix Group, Inc. Announces Its Pernix-Ledcor-Serka Joint Venture Has Been Awarded A $92.6 Million Contract By The U.S. Department Of State
Pernix Group, Inc. an international company specializing in the construction, power generation and RF Transmitter markets announced today that its Joint Venture with Ledcor Construction, Inc. and Serka Insaat VeTicaret A.S. (PLS JV) received an award from the U.S. Department of State. Pernix Group is the majority stakeholder in PLS JV which had been awarded a multi-billion dollar Indefinite Delivery/Indefinite Quantity (IDIQ) contract for design, construction, supply and/or installation of pre-fabricated and engineered containerized housing and office units with integrated building systems and complete site infrastructure. The base IDIQ contract was awarded in January 2011 by the U.S. Department of State (DOS) and is earmarked for support of U.S. diplomatic missions worldwide as well as U.S. global operations in support of contingency, humanitarian and emergency relief.
PLS JV was recently awarded its first task order under this IDIQ for 92.6 Million Dollars. The project is on a design build basis, and is for work to be executed in Baghdad, Iraq. PLS JV intends to submit competitive proposals for each Task Order under the IDIQ contract. The vast majority of the work will be executed by PLS JV and its members, along with key containerized housing unit suppliers. KBR is a key partner providing management and other support services to PLS JV.
Nidal Z. Zayed, CEO of Pernix Group stated that, “We are extremely excited to be working with world-class organizations and partners on this Contract. Ledcor and Serka are well qualified for the work at hand and I am confident that together we will provide the US Department of State the best in class solution for this very important project. We are also very proud to be working closely with KBR as it is providing management and logistical support to our Joint Venture.”
Pernix Group Inc. is a global company with its international headquarters located in Lombard, Illinois. The company is engaged in three primary business segments: construction services as a Design-Build General Contractor in the Federal and Government market, Power Generation and Operations, and RF Transmitter Design, Installation and Service. Pernix has subsidiaries in the Commonwealth of Northern Mariana Islands, the Republic of Fiji Islands, Berlin, Germany and the Republic of Vanuatu. In 2007 Pernix Group led a joint venture that was awarded a multi-million dollar contract to build the new United States Embassy in Suva, Fiji. Additional information is available at www.pernixgroup.com.Certain of the statements made in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and other factors that could cause or contribute to actual results differing materially from such forward-looking statements are discussed in greater detail in the Company's filings with the U.S. Securities and Exchange Commission.
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