MARLTON, N.J. and SAO PAULO, Brazil, Sept. 19, 2012 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that its Brazilian subsidiary Engineering S.A. has received a contract from Centro Nacional de Pesquisa em Energia e Materiais (CNPEM) to provide engineering and design management services during development of the R$400 million ($198 million) Sirius Sincrotron Light Source, a specialized scientific research instrument that will be located at the Brazilian Sincrotron Light Laboratory in Campinas, Sao Paulo, Brazil. The nine-month contract has an estimated value of approximately R$6.0 million ($3.0 million).
The Sincrotron name is derived from "synchrotron," which is a source of brilliant light that scientists can use to gather information about the structural and chemical properties of materials at the molecular level. A synchrotron produces the light by using powerful electro-magnets and radio frequency waves to accelerate electrons to nearly the speed of light in a storage ring. The storage ring is a polygon, made of straight sections angled together with bending magnets. As electrons pass through each magnet they lose energy in the form of a very brilliant, highly focused light. This light—different spectra of light, such as Infrared, Ultraviolet, and X-rays—can then be channelled out of the storage ring wall and into the experimental stations where researchers choose the desired wavelength to study their samples. This tool can be used to probe the matter and analyze a host of physical, chemical, geological and biological processes. Information obtained by scientists can be used to help design new drugs, examine the structure of surfaces to develop more effective motor oils, build smaller more powerful computer chips, develop new materials for safer medical implants, and help with the clean-up of mining wastes, to name just a few applications.
"This is a unique and extremely complex project," said Pedro Inchausti , Director of Engineering S.A. "Winning this project is a reflection of the depth of experience and remarkable track record of our company in Brazil," added Inchausti.Hill International, with 3,200 employees in 110 offices worldwide, provides program management, project management, construction management and construction claims and consulting services. Engineering News-Record magazine recently ranked Hill as the 8th largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com . The Hill International, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5733 Certain statements contained in this press release may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and it is our intent that any such statements be protected by the safe harbor created thereby. Except for historical information contained in this press release, the matters set forth herein including, but not limited to, any projections of revenues, earnings or other financial items; any statements concerning our plans, strategies and objectives for future operations; and any statements regarding future economic conditions or performance, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although we believe that the expectations, estimates and assumptions reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include: modifications and termination of client contracts; control and operational issues pertaining to business activities that we conduct on our own behalf or pursuant to joint ventures with other parties; difficulties we may incur in implementing our acquisition strategy; the need to retain and recruit key technical and management personnel; and unexpected adjustments and cancellations related to our backlog. Additional factors that could cause actual results to differ materially from our forward-looking statements are set forth in the reports we have filed with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statement.