EMCOR Group, Inc. Awarded Mechanical Systems Contract For Phoenix Children's Hospital Expansion
NORWALK, CONNECTICUT, September 18, 2008 - EMCOR Group, Inc. (NYSE: EME), a Fortune 500® leader in mechanical and electrical construction, energy infrastructure and facilities services for a diverse range of businesses, announced that its University Mechanical & Engineering Contractors, Inc. (UMEC) subsidiary has been awarded the mechanical systems contract for the expansion project at Phoenix Children's Hospital in Phoenix, Arizona.
UMEC will install the mechanical systems involved in the expansion of the 759,000 square foot, 11-story patient care tower and will be utilizing its Preconstruction and Design Assist Services, including full 3D CAD/BIM in connection with the project. The project will include the mechanical systems for the 80,000 square feet of shell space and new patient rooms on the upper seven floors (43,000 square feet each). UMEC will also be responsible for the installation of mechanical systems for the basement and first four floors (95,000 square feet each), which will consist of diagnostic, treatment and support facilities.
Phoenix Children's Hospital is launching this $588 million expansion in response to a severe pediatric bed shortage in the area. Expected to be complete by 2012, the number of licensed beds will increase from 299 to 632 and the size of the campus will nearly double. The expansion is also slated to add approximately 2,000 new jobs to the region.
"We are honored to work with Phoenix Children's Hospital to ensure that they have the resources they need for the children in the area," said Brad Thornton, President and Chief Executive Officer of UMEC. "We are excited to be part of this important project, and look forward to assisting the Hospital in its goals of meeting the critical health care needs of the community."
About EMCOR Group, Inc.
A Fortune 500 company with estimated 2008 revenues of $6.8 - $7.0 billion, EMCOR Group, Inc. (NYSE: EME) is a global leader in mechanical and electrical construction, energy infrastructure, and facilities services. EMCOR gives life to new structures and sustains life in existing ones by its planning, installing, operating and maintaining the sophisticated and dynamic systems that create facility environments---such as electrical, mechanical, lighting, air conditioning, heating, security and power generation systems---in virtually every sector of the economy and for a diverse range of businesses around the world. EMCOR represents a rare combination of reach with local execution, combining the strength of an industry leader with the knowledge and care of 170 locations worldwide. The 30,000 skilled employees of EMCOR have made the company, in the eyes of leading business publications, amongst America's "Most Admired" and "Best Performing." EMCOR's diversity---in terms of the services it provides, the industries it serves and the geography it spans---has enabled it to create a stable platform for sustained results. The Company's strong financial position has enabled it to attract and retain among the best local and regional talent, to undertake and complete the most ambitious projects, and to redefine and shape the future of the construction and facilities services industry. Additional information on EMCOR can be found at www.EMCORGroup.com.
This release may contain certain forward-looking statements within the meaning of the Private Securities Reform Act of 1995. Any such comments are based upon information available to EMCOR management's perception thereof, as of this date, and EMCOR assumes no obligation to update any such forward-looking statements. These forward-looking statements may include statements regarding market opportunities, market share growth, gross profit, project mix, projects with varying profit margins, and selling, general and administrative expenses. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Accordingly these statements are no guarantee of future performance. Such risk and uncertainties include, but are not limited to, adverse effects of general economic conditions, changes in the political environment, changes in the specific markets for EMCOR's services, adverse business conditions, availability of adequate levels of surety bonding, increased competition, unfavorable labor productivity, mix of business, and risks associated with foreign operations. Certain of the risks and factors associated with EMCOR's business are also discussed in the Company's 2007 Form 10-K, its Form 10-Q for the second quarter ended June 30, 2008, and in other reports filed from time to time with the Securities and Exchange Commission. All these risks and factors should be taken into account in evaluating any forward-looking statements.
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