AECOM joint venture to provide program management services for the Chicago Department of Water Management’s capital improvement program

Rhea-AI Summary

AECOM-DBS joint venture awarded 3-year contract for program management services with the Chicago Department of Water Management

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• AECOM-DBS will manage the capital improvement program for DWM's facilities, including water distribution system improvements and lead service line replacement

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• None.

DALLAS--(BUSINESS WIRE)-- AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, announced today that its AECOM-DBS joint venture with minority-owned business enterprise partner DB Sterlin (DBS) has been awarded a 3-year contract to provide program management services to the Chicago Department of Water Management (DWM). In this role, AECOM-DBS will manage the capital improvement program for DWM’s facilities, which deliver nearly 750 million gallons of drinking water to residents daily. Work will focus on numerous DWM assets, including improvements to its 4,300-mile water distribution system, 12 pumping stations, and two of the world’s largest water purification plants.

“Through our work with DWM on their ambitious capital improvement program, we share a deep commitment to ensuring safety, championing sustainability, and optimizing costs for the benefit of Chicago area communities,” said Drew Jeter, chief executive of AECOM’s Program Management global business line. “Our Sustainable Legacies strategy centers the role of infrastructure in delivering equitable outcomes, and we’re proud that this program presents a critical opportunity to address one of the greatest health and equity challenges associated with water delivery in the U.S.—lead service line replacement.”

Across the city of Chicago, AECOM-DBS will support the ongoing delivery of high-quality drinking water and efficient management of waste and stormwater infrastructure as well as the replacement of 400,000 lead service lines. The team will use the latest methods in water main design and rehabilitation to identify and address critical water system vulnerabilities, mitigate corrosion, and limit impacts on trees and vegetation. This will include the use of trenchless technologies to minimize costs, accelerate work, and limit disruption to the public. Through its vast expertise, the joint venture will use a facilities planning, design and construction management approach to provide a smooth transition and quickly prioritize DWM’s long-term planning needs while minimizing community disruption.

“We’re proud to build on our longstanding partnership collaborating with DBS on dozens of projects in Chicago to lead DWM’s capital improvement program,” said Beverley Stinson, chief executive of AECOM’s global Water business. “This partnership combines the expertise of two firms, both of whom strongly believe in DWM’s value to the City: providing clean, safe and reliable drinking water. We’re excited to bring our knowledge and insights gained from decades of experience in similar programs, both in the City of Chicago and around the world.”

About AECOM

AECOM (NYSE: ACM) is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from advisory, 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 and digital expertise, 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 $13.1 billion in fiscal year 2022. 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, 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; limited control over operations that 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 expected benefits and costs of the sale of our Management Services and self-perform at-risk civil infrastructure, power construction and oil and gas construction businesses, including the risk that any contingent purchase price adjustments from those transactions could be unfavorable and result in lower aggregate cash proceeds and any future proceeds owed to us under 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231005667572/en/

Media Contact:

Brendan Ranson-Walsh

Senior Vice President, Global Communications

1.213.996.2367

Brendan.Ranson-Walsh@aecom.com

Investor Contact:

Will Gabrielski

Senior Vice President, Finance, Treasurer

1.213.593.8208

William.Gabrielski@aecom.com

Source: AECOM

FAQ

What is the contract awarded to AECOM-DBS for?

The contract is for program management services with the Chicago Department of Water Management.

What will AECOM-DBS focus on in their role?

They will focus on managing the capital improvement program for DWM's facilities, including improvements to the water distribution system and lead service line replacement.

What is the goal of the program?

The goal is to deliver high-quality drinking water, manage waste and stormwater infrastructure, and replace 400,000 lead service lines.

What methods will be used to address water system vulnerabilities?

The joint venture will use the latest methods in water main design and rehabilitation to identify and address critical water system vulnerabilities.

How will costs and disruption be minimized?

Trenchless technologies will be used to minimize costs, accelerate work, and limit disruption to the public.