--- Projects Demonstrate Continued Demand for Complex, State-of-the-Art Systems, and EMCOR's Unique Ability to Provide Them for This Growing Market ---
NORWALK, CONNECTICUT, November 8, 2007 - EMCOR Group, Inc. (NYSE: EME), a Fortune 500® leader in mechanical and electrical construction, energy infrastructure and facilities services for a diverse range of businesses globally, announced it has begun work on a number of important new projects in the healthcare sector. The project awards reflect EMCOR's continuing ability to provide specialty construction and project management services to the nation's leading healthcare providers, an ever-growing sector in which the Company has been a longtime leader.
"Average life expectancies in the United States have reached record levels and our aging population is steadily growing, creating an increasing demand for the delivery of sophisticated and efficient services for the healthcare sector," said Frank T. MacInnis, Chairman and CEO of EMCOR Group. "These new projects demonstrate our continued leadership in providing the ‘system-rich' solutions the medical and pharmaceutical sectors demand across a range of venues, including hospitals, clinics, and diagnostic, research and bio-pharmaceutical facilities."
In 2006 EMCOR companies worked on 169 projects in the healthcare and biotechnology industries. In addition, the Company's 2007 project backlog at the end of the third quarter included $696 million in healthcare projects, accounting for 15.5 percent of total backlog.
EMCOR's recent project awards in the healthcare sector include:
Saint Joseph Regional Medical Center (Mishawaka, IN) - EMCOR subsidiary Shambaugh & Son was awarded the mechanical contract for this new $250-million, state-of-the-art, seven-story critical care facility, which includes 254 patient rooms, 16 surgery centers, an ICU, an emergency room, and a birthing center. Shambaugh will provide over 25 miles of mechanical utility piping as well as all air handling and HVAC systems.
Sutter General Hospital (Sacramento, CA) - EMCOR subsidiary Contra Costa Electric will provide the electrical systems for the renovation of this 351,000 square-foot facility. The project will include cardiovascular, telemetry, bone marrow transplant, medical oncology, neurology, and orthopedicscare systems and units. It will also include a number of additions to the facility's surgery suite,including new operating rooms, cardiac catheterization and electrophysiology labs, angiographyrooms and over 100 recovery beds. The project will also include clinical lab space, creation of a tunnel linking Sutter General to a neighboring building, and accommodation of the expansion of the emergency department and various facilities programs.
Geary Community Hospital (Junction City, KS) - EMCOR subsidiary Central Mechanical Construction will provide plumbing and mechanical systems for the three-story, 100,000 square-foot expansion of this facility. The project will include all potable water in the building and medical gas systems in addition to HVAC piping and ductwork as well as a new central facility plant that adds new chillers, cooling towers and boilers.
Mannkind Inhale-able Insulin Facility (Danbury, CT) - EMCOR subsidiary Tucker Mechanical is performing the HVAC piping, including chilled water, hot water, compressed air and steam condensate piping, to all HVAC and Process Equipment. Tucker will install a total of 30,000 feet of piping in the two-story, 210,000 square foot facility, a production facility for Inhale-able Insulin.
About EMCOR Group, Inc.
A Fortune 500 company with over $5.0 billion in
annual revenues, EMCOR Group, Inc. (NYSE: EME) is a global leader in
mechanical and electrical construction, energy infrastructure, and
facilities services. EMCOR gives life to new structures and sustains
life in existing ones by its planning, installing, operating and
maintaining the sophisticated and dynamic systems that create facility
environments---such as electrical, mechanical, lighting, air
conditioning, heating, security and power generation systems---in
virtually every sector of the economy and for a diverse range of
businesses around the world. EMCOR represents a rare combination of
global reach with local execution, combining the strength of an
industry leader with the knowledge and care of 140 locations
worldwide. The 27,000 skilled employees of EMCOR have made the
company, in the eyes of leading business publications, amongst
America's "Most Admired" and "Best Performing." EMCOR's diversity---in
terms of the services it provides, the industries it serves and the
geography it spans---has enabled it to create a stable platform for
sustained results. The Company's strong financial position has enabled
it to attract and retain among the best local and regional talent, to
undertake and complete the most ambitious projects, and to redefine and
shape the future of the construction and facilities services industry.
This release may contain certain forward-looking statements within the meaning of the Private Securities Reform Act of 1995. Any such comments are based upon information available to EMCOR management's perception thereof, as of this date, and EMCOR assumes no obligation to update any such forward-looking statements. These forward-looking statements may include statements regarding market opportunities, market share growth, gross profit, project mix, projects with varying profit margins, and selling, general and administrative expenses. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Accordingly these statements are no guarantee of future performance. Such risk and uncertainties include, but are not limited to, adverse effects of general economic conditions, changes in the political environment, changes in the specific markets for EMCOR's services, adverse business conditions, availability of adequate levels of surety bonding, increased competition, unfavorable labor productivity, mix of business, and risks associated with foreign operations. Certain of the risks and factors associated with EMCOR's business are also discussed in the Company's 2006 Form 10-K, its Form 10-Q for the third quarter ended September 30, 2007, and in other reports filed from time to time with the Securities and Exchange Commission. All these risks and factors should be taken into account in evaluating any forward-looking statements.
CONTACT:
Mava Heffler
Vice President,
Marketing & Communications
203-849-7814
Bruce Ross Associates Inc.
Media: Bruce Ross
212-768-1155
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