Hill International to Support Fraport Greece for the Upgrade and Modernization of 14 Airports

Date : 01/16/2020 @ 1:55PM
Source : GlobeNewswire Inc.
Stock : Hill International Inc (HIL)
Quote : 1.54  0.0 (0.00%) @ 9:00AM
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Hill International to Support Fraport Greece for the Upgrade and Modernization of 14 Airports

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Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has been selected by Fraport Greece (FG) to provide project management support and on-call technical support services under a three-year framework contract related to the upgrade, maintenance, management, and operation of 14 airports in Greece.

Following an international privatization process concluded in December 2015, FG entered into a concession agreement with the Greek State for managing, operating, and developing 14 regional airports in Greece for a period of 40 years. Specifically, these airports include mainland and island gateways at Aktion, Chania (Crete), Corfu, Kavala, Kefalonia, Kos, Lesvos, Mykonos, Rhodes, Samos, Santorini, Skiathos, Thessaloniki, and Zakynthos. Since entering the concession agreement, FG has been carrying out a capital expenditure program in excess of €415 million for the modernization, development, and/or expansion of these airports’ infrastructure. Work ranges from the refurbishment of existing terminals to the construction of new landside and airside facilities with the goal of improving operational processes, safety, and travel experiences.

“These airports form a transit web throughout Greece,” says Manolis Sigalas, Hill International Vice President and Managing Director for Southern Europe. “As tourism in Greece continues to surge, these upgraded hubs will help meet the demands of the industry. The airports will also facilitate regional travel and create jobs for local communities. This is an investment of national significance.”

For the duration of the framework contract, Hill will support FG’s in-house divisions for the management of the infrastructure works related to the European Union Aviation Safety Agency Certification compliance program for all airports, the commercial development program, the management of works associated with the environmental compliance program, and the provision of related contractual advice, among other things.

“FG’s capital expenditure program will bring about much-needed upgrades for Greece’s tourist and transit infrastructure, as well as the resultant financial benefits for the country,” says Raouf Ghali, Hill International Chief Executive Officer. “By upgrading and expanding facilities, FG is improving processes and the overall customer experience. We are delighted to be supporting this client as they bring Greece’s airports into the 21st century. This assignment is a testament to the breadth and depth of services that Hill can provide on airport projects across Europe and internationally.”

About Hill International

Hill International, with approximately 2,700 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.

Forward Looking Statements

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 statements of belief or intent, any statements concerning our plans, strategies, and objectives for future operations 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 (215) 309-7707 elizabethzipf@hillintl.com

Hill International, Inc. Todd Weintraub Senior Vice President and Chief Financial Officer (215) 309-7951 toddweintraub@hillintl.com

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