PHILADELPHIA and BELGRADE, Serbia, March 28, 2018 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today it has received a contract from the European Investment Bank (EIB) to provide Technical Assistance for Infrastructure Project Facility 7 (IPF 7). IPF 7 will improve infrastructure across the Western Balkans. This includes priority projects in the transportation, environmental, energy, and social infrastructure sectors. Countries benefiting from these projects include Serbia, Bosnia and Herzegovina, Montenegro, Kosovo, Albania, and the Former Yugoslav Republic of Macedonia. These projects will enhance the quality of life for citizens across the region, generate economic activity among and between Western Balkans, and further integrate local and national economies with the European Union (EU).
Hill International NV is leading a consortium of firms, including Hill International (Bucharest) SRL, Gopa Infra GmBH, Gopa International Energy Consultants GmBH, Planet SA, DB Engineering and Consulting GmBH, SYSTEMA Consulting Limited, Cestra doo, and Trenecon Consulting and Planning Ltd. The consortium’s technical assistance will support the preparation and implementation of IPF 7’s projects, helping the EIB to confirm the investment of European taxpayers is spent efficiently, effectively, and sustainably, and that the projects will create added value for all EU members. Specific services will include feasibility studies, preliminary and detailed designs, tendering process support, supervision of works, preparatory sector studies, preparation of Terms of References, and reporting to the Western Balkans Investment Framework.
The contract has a value of more than EUR 20.7 million (USD 25.6 million) to the total consortium, and a value of EUR 8.9 million (USD 11 million) specific to Hill.
“Our consortium brings innovative approaches and award-winning techniques in managing and monitoring programs like IPF 7,” said Panayiotis Methenitis, Hill International Vice President & Managing Director Balkans. “Combined with our regional project successes and strong partnerships in the local communities, we will make certain the IPF projects directly contribute to the continuing work of bringing the Western Balkans’ infrastructure up to European standards and improving the lives of everyday citizens.”
Hill International, with more than 3,000 professionals in more than 50 offices worldwide, provides program management, project management, construction management, and other consulting services to clients in a variety of market sectors. Engineering News-Record magazine recently ranked Hill as the eighth-largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.
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 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, including that unfavorable global economic conditions may adversely impact our business, our backlog may not be fully realized as revenue, and our expenses may be higher than anticipated. We do not intend, and undertake no obligation, to update any forward-looking statement.
Hill International, Inc.
Elizabeth J. Zipf, LEED AP BD+C
Senior Vice President
Hill International, Inc.
One Commerce Square
2005 Market Street, 17th Floor
Philadelphia, PA 19103
Tel: 215-309-7707
elizabethzipf@hillintl.com
Hill International, Inc.
Marco A. Martinez
SVP & Interim Chief Financial Officer
Tel: 215-309-7951
marcomartinez@hillintl.com
InvestorCom
John Glenn Grau
President
Tel: 203-295-7841
jgrau@investor-com.com
(HIL-G)