Hill International Expands New York Service Offerings with Acquisition of Licensed Engineering Corporation

Rhea-AI Summary

Hill International (NYSE:HIL) has acquired a licensed New York State Engineering corporation, enabling the company to provide resident engineering and inspection services to clients in New York City and State. This acquisition marks a significant growth opportunity for Hill in a key U.S. operating region. CEO Raouf Ghali emphasized the expansion of service offerings and commitment to client service evolution. The company aims to leverage its experience from infrastructure projects across the U.S. to enhance service quality for New York metro area clients.

Positive

• Acquisition of a New York State Engineering license, enhancing service offerings.
• Expansion into a significant growth market in New York.
• Opportunity to leverage existing infrastructure project experience.

Negative

• None.

PHILADELPHIA, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has acquired a licensed New York State Engineering corporation. The acquisition allows Hill to offer their New York City and State clients resident engineering and inspection services.

“This license provides Hill with a significant growth engine in one of our largest U.S. operating regions, while supporting our commitment to client service evolution,” said Hill Chief Executive Officer Raouf Ghali. “We look forward to leveraging Hill’s track record of project excellence and industry reputation as we introduce this high-value service to current and future clients.”

Hill currently provides resident engineering and inspection services for infrastructure clients across the U.S., including work on major aviation, highway and bridge, and rail and transit programs and projects, but was precluded from offering these services to many New York City and State clients due to the lack of a New York State Engineering license. The company will now leverage the best practices and lessons learned from its many U.S. infrastructure projects to better serve their New York metro area clients.

“The new entity allows us to expand our service offerings, grow our business in New York, and better serve our valued clients,” said Gill M.S. Mosseri, PE, Vice President and Hill’s New York Metro Infrastructure and Operations Manager.

“We are extremely excited about expanding our service offerings and having Gill join our Northeast team. I’ve worked with Gill for over 20 years and he has a proven track record of successfully leading organizations and delivering infrastructure projects across the New York Metro area,” said Dominick Fickeria, Senior Vice President and Northeast Regional Manager.

About Hill International

Hill International, with approximately 2,700 professionals in 69 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

The Equity Group, Inc.
Devin Sullivan
Senior Vice President
(212) 836-9608
dsullivan@equityny.com

FAQ

What is the significance of Hill International's acquisition of a New York State Engineering corporation?

The acquisition allows Hill International to offer resident engineering and inspection services in New York, a crucial market for expansion.

How will Hill International's acquisition impact its operations in New York?

The acquisition enables Hill to better serve clients in New York City and State, leveraging experience from existing projects.

What opportunities does Hill International foresee from this acquisition?

Hill International anticipates significant growth and enhanced client service offerings, particularly in infrastructure projects.

When did Hill International announce the acquisition?

Hill International announced the acquisition on November 5, 2020.