MARLTON, N.J., April 1, 2013 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has received task orders from New Jersey Transit Corporation (NJ TRANSIT) to provide project management oversight (PMO) services in connection with the state agency's Superstorm Sandy recovery efforts. The two-year assignment has an estimated initial value to Hill of approximately $2.3 million.
Beginning on October 28, 2012, and continuing through October 30, 2012, Superstorm Sandy struck the State of New Jersey with high winds and torrential rains producing unprecedented severe weather conditions, including enormous storm surges and devastating flooding. Superstorm Sandy caused significant damage to a large portion of NJ TRANSIT's transportation assets, impacting NJ TRANSIT's ability to provide public transportation in accordance with its legislated mission.
Although the emergent conditions were mitigated, due to the extensive storm damage, repairs to and protection of NJ TRANSIT's assets are still on-going. NJ TRANSIT considers the repairs and protective measures critical to restore and maintain safe and reliable public transportation to pre-storm conditions. These repairs and protective measures are extensive and are technically complex in nature requiring the procurement of specialized oversight services."We are looking forward to our oversight role of NJ TRANSIT as they work to fully recover from the damages the agency sustained as a result of Superstorm Sandy," said Michael V. Griffin, P.E., Senior Vice President and Mid-Atlantic Regional Manager for Hill's Project Management Group. Hill International, with 3,700 employees in 100 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 herein 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, 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 are set forth in the Risk Factors section and elsewhere 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.
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