MARLTON, N.J. and BAGHDAD, Iraq, April 23, 2012 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has been awarded a contract by the Iraq Ministry of Higher Education and Scientific Research to provide design management and construction management services for the new Al Bayaa Teaching Hospital in Baghdad, Iraq. The three-year contract has an estimated value to Hill of approximately $5.2 million.
The hospital, which is expected to cost approximately $210 million, will have 600 beds and will facilitate training of physicians and other medical professionals.
"This new teaching hospital will help to improve healthcare services in Baghdad and throughout Iraq," said Akram Ogaily, Senior Vice President in charge of Iraq operations for Hill's Project Management Group. "We are proud to be participating in this important project," added Ogaily.
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.
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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.
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