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Black Construction-Tutor Perini Joint Venture Awarded $113.3 Million P-541 Missile Integration Test Facility in Guam

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Tutor Perini (NYSE: TPC) has announced that its joint venture with subsidiary Black Construction has been awarded a $113.3 million contract by the Naval Facilities Engineering Systems Command, Pacific. The project involves constructing the P-541 Missile Integration Test Facility at Naval Base Guam, part of the Pacific Deterrence Initiative.

The scope includes building a 57,664 square-foot concrete structure with missile processing spaces, a test cell, administration area, and storage rooms. The project also entails demolishing an existing building and implementing site improvements. The facility will be equipped with modern systems including air conditioning, telecommunications, and fire protection.

Work is set to begin soon, with completion expected in December 2028. The contract value has been added to Tutor Perini's backlog in the third quarter of 2024.

Tutor Perini (NYSE: TPC) ha annunciato che la sua joint venture con la sussidiaria Black Construction ha ricevuto un contratto del valore di 113,3 milioni di dollari dal Naval Facilities Engineering Systems Command, Pacific. Il progetto prevede la costruzione del P-541 Missile Integration Test Facility nella Naval Base Guam, parte dell'Iniziativa di Deterrenza del Pacifico.

Il progetto comprende la realizzazione di una struttura in cemento di 57.664 piedi quadrati con spazi per l'elaborazione dei missili, una cella di test, un'area amministrativa e stanze di stoccaggio. È previsto anche il demolimento di un edificio esistente e l'implementazione di miglioramenti del sito. La struttura sarà dotata di sistemi moderni, tra cui aria condizionata, telecomunicazioni e protezione antincendio.

I lavori inizieranno presto, con completamento previsto per dicembre 2028. Il valore del contratto è stato aggiunto all'entrata di Tutor Perini nel terzo trimestre del 2024.

Tutor Perini (NYSE: TPC) ha anunciado que su empresa conjunta con la subsidiaria Black Construction ha sido galardonada con un contrato de 113,3 millones de dólares por el Comando de Sistemas de Ingeniería de Instalaciones de la Marina, Pacífico. El proyecto implica la construcción de la Instalación de Pruebas de Integración de Misiles P-541 en la Base Naval de Guam, parte de la Iniciativa de Disuasión del Pacífico.

El alcance incluye la construcción de una estructura de hormigón de 57,664 pies cuadrados con espacios para el procesamiento de misiles, una celda de prueba, área administrativa y cuartos de almacenamiento. El proyecto también implica la demolición de un edificio existente y la implementación de mejoras en el sitio. La instalación estará equipada con sistemas modernos, incluidos aire acondicionado, telecomunicaciones y protección contra incendios.

El trabajo comenzará pronto, con la finalización prevista para diciembre de 2028. El valor del contrato se ha añadido a la cartera de Tutor Perini en el tercer trimestre de 2024.

튜터 페리니(Tutor Perini) (NYSE: TPC)는 자회사 블랙 건설(Black Construction)과의 합작 투자로 1억 1330만 달러 규모의 계약을 태평양 해군 시설 엔지니어링 시스템 사령부(Naval Facilities Engineering Systems Command, Pacific)로부터 체결했다고 발표했습니다. 이 프로젝트는 태평양 억제 이니셔티브의 일환으로, 괌 해군 기지에 P-541 미사일 통합 테스트 시설을 건설하는 것입니다.

작업 범위에는 미사일 처리 공간, 시험 셀, 관리 공간 및 저장실을 갖춘 57,664 제곱피트 규모의 콘크리트 구조물 건축이 포함됩니다. 이 프로젝트는 기존 건물의 철거와 현장 개선 작업도 포함됩니다. 시설은 공기 조절, 통신 및 화재 방지와 같은 현대적인 시스템을 갖출 예정입니다.

작업은 곧 시작될 예정이며, 2028년 12월에 완료될 것으로 예상됩니다. 계약 가치는 2024년 3분기에 튜터 페리니의 백로그에 추가되었습니다.

Tutor Perini (NYSE: TPC) a annoncé que son coentreprise avec sa filiale Black Construction a été par le Commandement des systèmes d'ingénierie des installations navales, Pacifique. Le projet concerne la construction de la Installation de Test d'Intégration de Missiles P-541 à la base navale de Guam, dans le cadre de l'Initiative de Dissuasion du Pacifique.

Le projet comprend la construction d'une structure en béton de 57 664 pieds carrés avec des espaces de traitement des missiles, une cellule d'essai, une zone administrative et des salles de stockage. Le projet implique également la démolition d'un bâtiment existant et la mise en œuvre d'améliorations sur le site. L'installation sera équipée de systèmes modernes, y compris la climatisation, les télécommunications et la protection incendie.

Les travaux devraient commencer bientôt, avec une achèvement prévu en décembre 2028. La valeur du contrat a été ajoutée au carnet de commandes de Tutor Perini au troisième trimestre 2024.

Tutor Perini (NYSE: TPC) hat angekündigt, dass das Joint Venture mit der Tochtergesellschaft Black Construction einen Auftrag im Wert von 113,3 Millionen Dollar vom Naval Facilities Engineering Systems Command, Pacific, erhalten hat. Das Projekt umfasst den Bau der P-541 Missile Integration Test Facility auf der Naval Base Guam, Teil der Pacific Deterrence Initiative.

Der Umfang umfasst den Bau eines 57.664 Quadratfuß großen Betonbauwerks mit Räumen zur Raketenbearbeitung, einer Testzelle, einem Verwaltungsbereich und Lagerräumen. Das Projekt umfasst außerdem den Abriss eines bestehenden Gebäudes und die Durchführung von Geländeverbesserungen. Die Einrichtung wird mit modernen Systemen wie Klimaanlage, Telekommunikation und Brandschutz ausgestattet.

Die Arbeiten sollen bald beginnen, mit einer Fertigstellung im Dezember 2028. Der Vertragswert wurde im dritten Quartal 2024 dem Auftragsbestand von Tutor Perini hinzugefügt.

Positive
  • Secured a $113.3 million contract for a strategic military project
  • Project added to company's backlog in Q3 2024, boosting future revenue visibility
  • Long-term project with completion expected in 2028, providing steady work flow
Negative
  • None.

Insights

This $113.3 million contract award for the P-541 Missile Integration Test Facility in Guam is a significant win for Tutor Perini and its joint venture partner. The project's scope, including a 57,664 square-foot structure with specialized missile processing spaces, demonstrates the company's capability to handle complex military infrastructure projects. The contract's addition to TPC's backlog in Q3 2024 strengthens its future revenue stream, with work expected to span until December 2028. This long-term project provides stable cash flow and showcases TPC's expertise in high-security government contracts. The Pacific Deterrence Initiative context suggests potential for similar future projects, which could benefit TPC's long-term growth prospects in the defense sector. Investors should note the project's strategic importance and its potential to enhance TPC's reputation for handling sensitive military construction projects.

The award of this $113.3 million contract to Tutor Perini underscores the ongoing investment in the Pacific Deterrence Initiative, reflecting the U.S. military's focus on strengthening capabilities in the Indo-Pacific region. The Missile Integration Test Facility's construction at Naval Base Guam is a critical component of this strategy. For investors, this project signals potential growth in defense-related construction contracts, particularly in strategic Pacific locations. The facility's advanced features, including missile test cells and specialized processing spaces, indicate a long-term commitment to missile defense systems in the region. This contract not only benefits TPC but also points to a broader trend of increased defense spending that could create opportunities for companies in the construction and defense sectors. The project's 5-year timeline suggests a stable, long-term revenue source for TPC, potentially improving investor confidence in the company's future earnings stability.

LOS ANGELES--(BUSINESS WIRE)-- Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that the Company, in a joint venture with its subsidiary, Black Construction Corporation, has been awarded a contract valued at approximately $113.3 million by the Naval Facilities Engineering Systems Command, Pacific, for the P-541 Missile Integration Test Facility at Naval Base Guam. The scope of work for this project, under the Pacific Deterrence Initiative, includes construction of the test facility, comprised of a single-story concrete 57,664 square-foot structure on a deep pile foundation. The test facility will support missile processing spaces, a missile test cell with test control room, an administration area and storage and utility rooms. The scope of work also includes demolition of an existing building, associated site improvements and all other necessary supporting facilities. The new facility will include complete plumbing, air conditioning and ventilation, lighting and electrical power, telecommunications, life safety and fire protection systems, emergency power generator and associated fuel tank.

Work is expected to begin shortly with substantial completion anticipated in December 2028. The contract value was added to the Company’s backlog in the third quarter of 2024.

About Tutor Perini Corporation

Tutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private customers and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget, while adhering to strict quality control measures. We offer general contracting, pre-construction planning and comprehensive project management services, including planning and scheduling of manpower, equipment, materials and subcontractors required for a project. We also offer self-performed construction services including site work, concrete forming and placement, steel erection, electrical, mechanical, plumbing and heating, ventilation and air conditioning (HVAC).

Tutor Perini Corporation

Jorge Casado, 818-362-8391

Vice President, Investor Relations and Corporate Communications

www.tutorperini.com

Source: Tutor Perini Corporation

FAQ

What is the value of the contract awarded to Tutor Perini's joint venture for the Guam missile facility?

The contract awarded to the Black Construction-Tutor Perini Joint Venture for the P-541 Missile Integration Test Facility in Guam is valued at approximately $113.3 million.

When is the P-541 Missile Integration Test Facility project in Guam expected to be completed?

The project is expected to have substantial completion in December 2028.

What is the size of the new missile test facility being built by Tutor Perini (TPC) in Guam?

The new missile test facility will be a single-story concrete structure measuring 57,664 square feet.

In which quarter was the Guam missile facility contract added to Tutor Perini's (TPC) backlog?

The contract value was added to Tutor Perini's backlog in the third quarter of 2024.

Tutor Perini Corporation

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