EX-99.1
4
a10-14052_1ex99d1.htm
EX-99.1
Exhibit 99.1
For Immediate Release
NR 10-0703
Contact: Paul Gennaro
SVP & Chief
Communications Officer
212.973.3167
Paul.Gennaro@aecom.com
Online Press Kit: http://aecom.presslift.com/media
AECOM acquires Tishman Construction
Corp. in US$245-million transaction
Expands AECOM's capabilities, presence in
US$100-billion global construction management market
LOS ANGELES (July 14, 2010) -
AECOM Technology Corporation (NYSE: ACM), a leading provider of professional
technical and management support services for government and commercial clients
around the world, announced today that it has acquired Tishman Construction
Corp., a leading provider of construction management services in the United
States and the United Arab Emirates, in a US$245-million transaction.
"The addition of Tishman to the
AECOM enterprise reflects our commitment to execute on our stated strategy of
growth and diversification", said AECOM President and Chief Executive Officer,
John M. Dionisio. "We are expanding our
portfolio of global expertise and enhancing our ability to meet the growing
customer demand for turnkey solutions, including integrated design, engineering
and construction services".
"This transaction allows AECOM to expand
its mix of higher-margin construction management/program management business -
a market estimated to be in excess of US$100 billion globally by
Engineering New-Record
- without materially increasing its
overall risk profile".
"This is a unique opportunity that
combines two best-in-class industry leaders to form a fully integrated global
platform capable of delivering the full suite of services - from project
concept to completion", Dionisio said.
"AECOM is joining forces with a premier construction management services
firm in Tishman, which is a true leader, and a powerful brand, in the
industry."
Tishman specializes in providing
construction management services, but also provides program management and
other construction-related services. It
serves public and private-sector clients in a variety of markets, including
arts and culture, commercial, education, gaming, health care, hospitality,
residential, retail, technology and transportation. This strategic addition to the AECOM
enterprise results in an increased global presence and bolstered resources for
integrated delivery of mega-projects.
Tishman has 900 employees across the United States and in the United
Arab Emirates and generated revenues of nearly US$1 billion in 2009.
"Joining AECOM is the logical next
step in the continued growth and success of Tishman, allowing us to expand our
reach globally and seize new opportunities as part of the worldwide AECOM team,"
said Tishman Chairman and Chief Executive Officer, Dan Tishman, who will
continue to head Tishman's operations and joins AECOM's leadership team as a
vice chairman and a member of its board of directors. "We have worked in partnership with AECOM for
many years and now look forward to Tishman becoming the cornerstone of AECOM's
construction management practice as well as offering our people the expanded
professional development opportunities associated with being part of a global
industry leader. We are excited about
the tremendous possibilities on the horizon for our clients and our employees".
-more-
Tishman is currently engaged in a
number of noteworthy projects, including 1 World Trade Center, which, on
completion, at 1,776 feet will be New York City's tallest building; World Trade
Center Tower 4 and the PATH Terminal Hub at the World Trade Center; the Food
and Drug Administration's 5.5-million-square-foot headquarters project in
Washington, D.C.; and the Angsana Resort and Spa in Abu Dhabi. Tishman, in a joint venture with AECOM, is
currently serving as construction manager for phase 1 of the Department of
Homeland Security's new headquarters on the St. Elizabeths campus in
Washington, D.C.
"With a 112-year history of
construction experience and a sterling reputation for work on marquee projects,
Tishman is now well-positioned as part of our global platform to address
growing demand for turnkey project delivery", Dionisio added. "We are delighted to welcome Tishman's
employees to AECOM, and we look forward to the new opportunities ahead".
The transaction will be paid in cash
and AECOM common stock. AECOM will
finance the cash portion of the transaction with cash from its balance sheet
which includes proceeds from its recently announced US$250-million debt
issuance. The transaction closed on July 14,
2010.
About AECOM
AECOM (NYSE: ACM) is a global
provider of professional technical and management support services to a broad
range of markets, including transportation, facilities, environmental, energy,
water and government. With approximately 45,000 employees around the world,
AECOM is a leader in all of the key markets that it serves. AECOM provides a
blend of global reach, local knowledge, innovation, and technical excellence in
delivering solutions that enhance and sustain the world's built, natural, and
social environments. A
Fortune 500
company,
AECOM serves clients in more than 100 countries and had revenue of $6.3 billion
during the 12-month period ended March 31, 2010. More information on AECOM
and its services can be found at www.aecom.com.
About Tishman Construction Corp.
Tishman Construction Corp. is a
112-year old, privately held company headquartered in New York City with 900
employees across the United States and in the United Arab Emirates, and has
overseen more than 450 million square feet of construction. Tishman ranks #2 in the nation on
Building Design and Construction
's Top Construction Managers
list. Signature projects include the original World Trade Center; the original
and rebuilt 7 World Trade Center; Disney's Epcot Center; MGM's CityCenter, an
18 million-square-foot hotel, casino and retail complex in Las Vegas; the
Boston Convention Center; One Bryant Park in New York, which is the first LEED
Platinum skyscraper in the world; the John Hancock Tower in Chicago; Century
City in Los Angeles; and the American Pharmacists Associations Headquarters in
Washington, D.C. More information about
Tishman is available online at www.tishmanconstruction.com.
Forward-Looking
Statements: All statements in this press release other than statements of
historical fact are "forward-looking statements" for purposes of federal and
state securities laws, including any statements of plans for future operations
or expected revenue. Actual results could differ materially from those
projected or assumed in any of our forward-looking statements. Important
factors that could cause actual results to differ materially from our
forward-looking statements are set forth in our quarterly report on Form 10-Q
for the fiscal quarter ended March 31, 2010, and our other reports filed
with the U.S. Securities and Exchange Commission. AECOM does not intend, and
undertakes no obligation, to update any forward-looking statement.
###
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EX - 99 . 1 4 a10 - 14052 _ 1ex99d1 . htm EX - 99 . 1 Exhibit 99 . 1 For Immediate Release NR 10 - 0703 Contact : Paul Gennaro SVP & Chief Communications Officer 212 . 973 . 3167 Paul.Gennaro@aecom.com Online Press Kit : http://aecom.presslift.com/media AECOM acquires Tishman Construction Corp . in US$ 245-million transaction Expands AECOM 's capabilities , presence in US$ 100-billion global construction management market LOS ANGELES ( July 14 , 2010 ) - AECOM Technology Corporation ( NYSE : ACM ) , a leading provider of professional technical and management support services for government and commercial clients around the world , announced today that it has acquired Tishman Construction Corp . , a leading provider of construction management services in the United States and the United Arab Emirates , in a US$ 245-million transaction . " The addition of Tishman to the AECOM enterprise reflects our commitment to execute on our stated strategy of growth and diversification " , said AECOM President and Chief Executive Officer , John M . Dionisio . " We are expanding our portfolio of global expertise and enhancing our ability to meet the growing customer demand for turnkey solutions , including integrated design , engineering and construction services " . " This transaction allows AECOM to expand its mix of higher - margin construction management / program management business - a market estimated to be in excess of US$ 100 billion globally by Engineering New - Record - without materially increasing its overall risk profile " . " This is a unique opportunity that combines two best - in - class industry leaders to form a fully integrated global platform capable of delivering the full suite of services - from project concept to completion " , Dionisio said . " AECOM is joining forces with a premier construction management services firm in Tishman , which is a true leader , and a powerful brand , in the industry . " Tishman specializes in providing construction management services , but also provides program management and other construction - related services . It serves public and private - sector clients in a variety of markets , including arts and culture , commercial , education , gaming , health care , hospitality , residential , retail , technology and transportation . This strategic addition to the AECOM enterprise results in an increased global presence and bolstered resources for integrated delivery of mega - projects . Tishman has 900 employees across the United States and in the United Arab Emirates and generated revenues of nearly US$ 1 billion in 2009 . " Joining AECOM is the logical next step in the continued growth and success of Tishman , allowing us to expand our reach globally and seize new opportunities as part of the worldwide AECOM team , " said Tishman Chairman and Chief Executive Officer , Dan Tishman , who will continue to head Tishman 's operations and joins AECOM 's leadership team as a vice chairman and a member of its board of directors . " We have worked in partnership with AECOM for many years and now look forward to Tishman becoming the cornerstone of AECOM 's construction management practice as well as offering our people the expanded professional development opportunities associated with being part of a global industry leader . We are excited about the tremendous possibilities on the horizon for our clients and our employees " . - more - Tishman is currently engaged in a number of noteworthy projects , including 1 World Trade Center , which , on completion , at 1,776 feet will be New York City 's tallest building ; World Trade Center Tower 4 and the PATH Terminal Hub at the World Trade Center ; the Food and Drug Administration 's 5 . 5 - million - square - foot headquarters project in Washington , D . C . ; and the Angsana Resort and Spa in Abu Dhabi . Tishman , in a joint venture with AECOM , is currently serving as construction manager for phase 1 of the Department of Homeland Security 's new headquarters on the St . Elizabeths campus in Washington , D . C . " With a 112 - year history of construction experience and a sterling reputation for work on marquee projects , Tishman is now well - positioned as part of our global platform to address growing demand for turnkey project delivery " , Dionisio added . " We are delighted to welcome Tishman 's employees to AECOM , and we look forward to the new opportunities ahead " . The transaction will be paid in cash and AECOM common stock . AECOM will finance the cash portion of the transaction with cash from its balance sheet which includes proceeds from its recently announced US$ 250-million debt issuance . The transaction closed on July 14 , 2010 . About AECOM AECOM ( NYSE : ACM ) is a global provider of professional technical and management support services to a broad range of markets , including transportation , facilities , environmental , energy , water and government . With approximately 45,000 employees around the world , AECOM is a leader in all of the key markets that it serves . AECOM provides a blend of global reach , local knowledge , innovation , and technical excellence in delivering solutions that enhance and sustain the world ' s built , natural , and social environments . A Fortune 500 company , AECOM serves clients in more than 100 countries and had revenue of $ 6.3 billion during the 12 - month period ended March 31 , 2010 . More information on AECOM and its services can be found at www.aecom.com . About Tishman Construction Corp . Tishman Construction Corp . is a 112 - year old , privately held company headquartered in New York City with 900 employees across the United States and in the United Arab Emirates , and has overseen more than 450 million square feet of construction . Tishman ranks # 2 in the nation on Building Design and Construction 's Top Construction Managers list . Signature projects include the original World Trade Center ; the original and rebuilt 7 World Trade Center ; Disney 's Epcot Center ; MGM 's CityCenter , an 18 million - square - foot hotel , casino and retail complex in Las Vegas ; the Boston Convention Center ; One Bryant Park in New York , which is the first LEED Platinum skyscraper in the world ; the John Hancock Tower in Chicago ; Century City in Los Angeles ; and the American Pharmacists Associations Headquarters in Washington , D . C . More information about Tishman is available online at www.tishmanconstruction.com . Forward - Looking Statements : All statements in this press release other than statements of historical fact are " forward - looking statements " for purposes of federal and state securities laws , including any statements of plans for future operations or expected revenue . Actual results could differ materially from those projected or assumed in any of our forward - looking statements . Important factors that could cause actual results to differ materially from our forward - looking statements are set forth in our quarterly report on Form 10 - Q for the fiscal quarter ended March 31 , 2010 , and our other reports filed with the U . S . Securities and Exchange Commission . AECOM does not intend , and undertakes no obligation , to update any forward - looking statement . # # # 2
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