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AECOM awarded NJ TRANSIT Bus Garage Modernization design contract
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
AECOM (NYSE: ACM) has been awarded a significant contract by NJ TRANSIT for engineering services related to its Bus Garage Modernization Program. This initiative aims to facilitate the transition to a zero-emissions bus fleet by upgrading the Hilton Garage in Maplewood and assessing 16 statewide bus garages. AECOM will provide essential engineering and construction assistance, focusing on electrification upgrades such as solar systems and charging equipment.
Positive
Award of contract for the Bus Garage Modernization Program, indicating growth opportunities.
Support for NJ TRANSIT’s strategic vision towards a zero-emissions fleet.
Potential revenue generation from providing engineering and construction services.
Negative
None.
The contract marks an important initial step in NJ TRANSIT’s transition to a zero-emissions bus fleet
DALLAS--(BUSINESS WIRE)--
AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, announced it has been awarded a contract by NJ TRANSIT to provide engineering services for its Bus Garage Modernization Program. In this role, AECOM will design the infrastructure required for battery electric buses at NJ TRANSIT’s Hilton Garage in Maplewood and conduct a survey of current conditions at 16 bus garages statewide. This work will help identify the required infrastructure upgrades needed to aid in the agency’s zero-emissions transition.
“We’re honored to continue our longstanding partnership with NJ TRANSIT in support of its mission to provide safe, reliable, and affordable public transportation, which is well aligned with the goals of our Sustainable Legacies strategy,” said Dan Faust, chief executive of AECOM’s U.S. East & Latin America region. “Garage modernization is a prerequisite for operation of a zero-emissions bus fleet, and we’re excited to bring together our team of proven program managers and subject matter experts with vast fleet electrification experience to help NJ TRANSIT achieve its strategic vision.”
NJ TRANSIT’s Bus Garage Modernization Program involves the extensive upgrading of existing facilities and infrastructure to support accommodation of a zero-emissions fleet. Under the contract, AECOM will provide conceptual, preliminary, and final engineering and construction assistance to prepare Hilton Garage for a limited deployment of electric buses. The firm will also conduct a systemwide bus garage survey to identify potential improvements related to fleet electrification, such as facility expansion, roof strengthening for solar systems and equipment, power supply upgrades, and installation of new technologies, including bus charging equipment.
“With increased investment in infrastructure that helps realize the social, economic, and environmental benefits of a decarbonized future, we’re proud to support our clients by delivering advanced solutions that accelerate the adoption of zero emissions technologies,” said Jennifer Aument, chief executive of AECOM’s global Transportation business. “Our dynamic, innovative technical specialists are pleased to help NJ TRANSIT implement its electrification goals as they relate to the passenger experience, social equity, climate resiliency, and futureproofing.”
AECOM is committed to delivering transformative environmental, social, and governance objectives through its Sustainable Legacies strategy, such that the work it does in partnership with its clients leaves a positive impact for years to come.
About AECOM AECOM (NYSE: ACM), is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical expertise and innovation, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.3 billion in fiscal year 2021. See how we are delivering sustainable legacies for generations to come at aecom.com and @AECOM.
Forward-Looking Statements
All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, coronavirus impacts, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations 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, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; impacts caused by the coronavirus and the related economic instability and market volatility, including the reaction of governments to the coronavirus, including any prolonged period of travel, commercial or other similar restrictions, the delay in commencement, or temporary or permanent halting of construction, infrastructure or other projects, requirements that we remove our employees or personnel from the field for their protection, and delays or reductions in planned initiatives by our governmental or commercial clients or potential clients; losses under fixed-price contracts; limited control over operations run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; potential high leverage and inability to service our debt and guarantees; ability to continue payment of dividends; exposure to political and economic risks in different countries, including tariffs; currency exchange rate and interest fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital real estate development projects; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of various dispositions such as the sale of our Management Services, self-perform at-risk civil infrastructure power construction, and oil and gas construction businesses, including the risk that purchase price adjustments, if any, from those transactions could be unfavorable and any future proceeds owed to us as part of those transactions could be lower than we expect; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
What is the contract awarded to ACM by NJ TRANSIT?
The contract awarded to ACM involves providing engineering services for NJ TRANSIT's Bus Garage Modernization Program to support a zero-emissions bus fleet.
What will AECOM (ACM) do under the NJ TRANSIT contract?
AECOM will design infrastructure for battery electric buses and assess current conditions at 16 bus garages to identify necessary upgrades.
How does the NJ TRANSIT contract impact AECOM's business?
The NJ TRANSIT contract is expected to generate revenue and enhances AECOM's portfolio in sustainable infrastructure projects.
When was the contract for the Bus Garage Modernization Program announced?
The contract was announced on the date of the press release, though the exact date is not specified in the provided content.
