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AECOM-led joint venture to provide program management services for Dallas Fort Worth International Airport
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
AECOM (NYSE: ACM) has formed a joint venture, Airfield Management Partners, with H.J. Russell & Company to provide civil airside program and construction management services for Dallas Fort Worth International Airport (DFW). This partnership aims to support DFW's Civil Airside Master Plan, building on a history of nearly $1 billion in improvements over the past six years. The joint venture will handle various project phases, including planning, design, and construction management, ensuring minimal impact on airport operations while enhancing infrastructure.
Positive
Joint venture with H.J. Russell & Company enhances AECOM's project capabilities at DFW.
Continued partnership with DFW builds on nearly $1 billion in improvements over six years.
Expertise in airfield management expected to optimize project delivery and airport operations.
Negative
None.
DALLAS--(BUSINESS WIRE)--
AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, today announced its Airfield Management Partners joint venture with H.J. Russell & Company, one of the nation’s largest African American-owned construction services businesses, has been selected to provide civil airside program and construction management services for Dallas Fort Worth International Airport (DFW). This work supports DFW’s long-term Civil Airside Master Plan as well as near-term strategies that reinforce its emphasis on customer experience.
“We are proud of our strong partnership with DFW, where we’ve delivered nearly $1 billion in civil airside and landside improvements over the last six years,” said Travis Boone, chief executive of AECOM’s U.S. West region. “To build on this legacy, AECOM and H.J. Russell & Company have formed a powerful joint venture that brings together a team of experts with unmatched knowledge of airport processes, existing relationships with key project stakeholders, and hands-on experience meeting DFW’s unique needs.”
The Airfield Management Partners joint venture has been selected to deliver planning and programming, preliminary design, procurement, design management, pre-construction, construction management, and closeout services on a delivery order basis for all phases of airside project development. These projects may include rehabilitation, improvements, and enhancements to infrastructure such as runways, taxiways, utilities, security, signage, airfield support facilities, and airport transit systems.
“As one of the nation’s leading aviation program management consultants, we look forward to providing fine-tuned best practices from our successful work on major international airports combined with our global technical expertise,” said Jennifer Aument, chief executive of AECOM’s global Transportation business. “DFW is at the forefront of airport innovation and we are honored to help deliver its next generation of airfield projects efficiently, safely, and with minimal impacts to active operations.”
DFW is one of the most frequently visited superhub airports in the world. Centered between owner cities Dallas and Fort Worth, it serves as a major job generator for the North Texas region by connecting people through business and leisure travel.
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; high leverage and potential inability to service our debt and guarantees; ability to continue payment of dividends; exposure to Brexit; exposure to political and economic risks in different countries; currency exchange rate 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 and power construction, and oil & gas maintenance and turnaround 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 joint venture between AECOM and H.J. Russell & Company about?
The joint venture, Airfield Management Partners, aims to provide civil airside program and construction management services for Dallas Fort Worth International Airport.
How much has AECOM invested in improvements at Dallas Fort Worth International Airport?
AECOM has delivered nearly $1 billion in civil airside and landside improvements at DFW over the past six years.
What services will the Airfield Management Partners joint venture provide?
The joint venture will offer planning, design, procurement, construction management, and closeout services for airside project development at DFW.
What is the significance of the partnership for AECOM?
This partnership allows AECOM to leverage its experience and expertise in managing airfield projects at one of the world's busiest airports.
