EMCOR Group, Inc. Announces Major New Energy Contracts for Utility, Private and Public Sector Clients in the U.S., U.K. and Canada

 

EMCOR Energy Projects Demonstrate Continued Growth in Need to Implement and Manage Alternative Energy Sources and Programs

 

NORWALK, CONNECTICUT, March 6, 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 that it has begun work on a number of new energy-related projects for major utilities, companies and organizations in the private and public sectors in the United States, United Kingdom, and Canada. The projects, which incorporate the latest developments in renewable and alternative cost effective fuel sources, including nuclear power, involve the assessment, implementation and management of efficiency-based programs and technologies.

 

“Whether to supplement or replace existing technologies, ensure business continuity in the event of an interruption, develop more cost-effective operations, or to begin developing a long-term plan for more efficient and environmentally-responsible operations, EMCOR is being asked to provide a full range of innovative and strategic energy services to clients of all types,” said Frank T. MacInnis, Chairman and CEO of EMCOR.  “With energy infrastructures that are often unreliable and overburdened, and with the growing recognition that alternative and renewable energy sources make both good environmental and business sense, organizations are increasingly turning to us and our expertise in the area of “green” to review and deliver workable solutions that will provide sustainable benefits in the short-term and long into the future.”

 

EMCOR’s new energy projects include:

 

SNC Lavalin Nuclear, Toronto, Canada – Comstock, an EMCOR Company, was selected to provide construction services at the Bruce Power Nuclear facility’s two nuclear generating stations.  Each station has a combined potential generating capacity in excess of 3,000 megawatts and consists of four nuclear reactor units.  Scope of work includes removal and replacement of the 16 life expired component steam generators and 4 steam drums.  Comstock will utilize crane capacity in excess of 1,000 tons, laser metrology, specialized cutting and machining equipment, as well as orbital welding.

 

Long Island Power Authority (LIPA), Long Island, NY - EMCOR was selected by LIPA to assist the Authority in the evaluation, development and field management of renewable energy generation projects under a three-year contract. Technologies with which EMCOR has been retained to provide feasibility and implementation assistance include photovoltaics, wind energy and other developmental renewable power production applications that are driven by wave and tidal power.

 

Pacific Gas & Electric (PG&E), Northern California - EMCOR was selected by PG&E to perform field inspections and verifications of on-site power generation projects in support of California’s Self Generation Incentive Program. The three-year contract includes inspections and verifications of technologies such as photovoltaics, fuel cells, wind, micro-turbines and more conventional cogeneration systems.

 

United States General Services Administration, Washington State – EMCOR was selected by the GSA to perform retro-commissioning work on 650,000 square feet of facilities at four of its buildings in Washington State.  EMCOR will test and evaluate control, lighting and HVAC systems and recommend operational and equipment changes for optimal energy efficiency.

 

University of California-Berkeley (Berkeley, CA) - EMCOR was selected to lead a study to identify the optimum configuration and end-to-end solution for the Campus to site an efficient solar-based generation project.  The review will involve a photovoltaic feasibility study including structural considerations, equipment, electrical loads, interconnection, and an overall economic evaluation. 

 

California State University-Los Angeles (Los Angeles, CA) - EMCOR was selected by CSULA to perform an HVAC renovation project focused on energy efficiency. The project will include a retrofit of the HVAC system of the student services and main administration building on campus, with the goal to save energy and improve occupant comfort. 

 

Thames Water, UK – EMCOR has been selected to evaluate and provide demand-side and supply-side solutions that reduce yearly energy expenditure.  To-date EMCOR has implemented high efficiency retrofits of drives, controls, and boilers for Thames Water, and is currently evaluating environmentally friendly waste to energy and power alternatives.

 

GlaxoSmith Kline, UK – EMCOR has been selected to evaluate and make recommendations as to how GlaxoSmith Kline can reduce annual energy expenditures on building operations and management.  Areas of focus include improving thermal and chilled water plant efficiencies and optimizing conservation opportunities to assist the company in their efforts to meet or exceed carbon reduction agreements for the UK and the EU.  

 

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 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.

 

FOR: 

EMCOR GROUP, INC.

CONTACT:     

Mava Heffler

Vice President, Marketing & Communications

203-849-7814

 

Linden Alschuler & Kaplan, Inc.

Media: Josh Epstein    

212-575-4545