EMCOR Group, Inc. Announces New Hospitality and Entertainment Project Awards
- Projects Demonstrate Lodging and Gaming Industries’ Continued Demand for Complex, State-of-the-Art Systems and EMCOR’s Industry-Leading Ability to Provide Them -
NORWALK, CONNECTICUT, October 9, 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 a number of new contracts for leading hospitality and entertainment clients. The project awards reflect EMCOR’s longstanding relationships in the hospitality industry, and the Company’s continued ability to provide complex, high-tech systems for the country’s most sophisticated casinos and hotels.
“EMCOR has long provided integrated, state-of-the-art solutions for the country’s favorite places to play and relax. With ongoing growth in casino and hotel construction and renovation, owners and developers trust EMCOR to deliver when exacting standards and on-time project completion is paramount to meeting their objectives of profitability and making their guests’ stays as exciting and memorable as possible. When it comes to having fun, no one is more serious than we are,” said Frank T. MacInnis, Chairman and CEO of EMCOR Group.
In addition to the well-established reputation EMCOR has earned in working for most of Las Vegas’ hotels and casinos, EMCOR companies coast to coast have worked on some of the largest and most exciting lodging and entertainment projects, ranging from Native American casinos and resorts to hotels and convention centers. These projects are system-rich, state-of-the-art facilities whose owners value quality and on-time delivery.
EMCOR’s recent project awards in the hospitality and gaming sector include:
The Cosmopolitan Resort & Casino (Las Vegas, NV) – EMCOR subsidiaries Dynalectric Nevada and Hansen Mechanical are responsible for the complete electrical and mechanical systems installation for this new condominium hotel project on the Las Vegas strip. The project includes all air conditioning, plumbing, central plant, lighting, tele/data, and fire alarm systems for two high-rise towers consisting of over 3 million square feet of condominiums and hotel guest rooms; five-level, five-acre public area consisting of casino, spa, retail, restaurants, convention spaces; showrooms; state-of-the-art pool/entertainment deck with nightclub; and five-level, 1.6-million-square-foot parking garage.
Encore (Las Vegas, NV) – EMCOR subsidiary Hansen Mechanical will provide the complete mechanical systems installation for Steve Wynn’s latest resort, located next door to Wynn Las Vegas. These 2,360,000 square feet of high-rise, 1,000,000 square feet of low-rise, 1,045,000 square feet of parking garage and 259,000 square feet of underground parking consist of 2,034 guest rooms, gaming, spa, restaurants and convention space.
Foothills Oaks Casino (Shingle Springs, CA) – Marelich Mechanical, an EMCOR subsidiary, is handling all HVAC and plumbing work for this new, environmentally friendly, 278,000-square-foot facility. The project consists of an 88,000-square-foot casino as well as restaurants, bars, a childcare facility, arcade, and retail space in addition to an eight-level concrete parking structure.
The Mark Hotel (New York, NY) – Heritage Mechanical, an EMCOR subsidiary, is providing new heating and cooling systems for this prestigious 16-story hotel. An entirely new, energy efficient chilled water plant along with a new central heating plant will provide 280 fan coils located in the guest rooms, allowing state-of-the-art comfort. New air systems will provide in excess of 180,000 cfm (cubic feet per minute) of supply and make up air in the newly renovated public areas.
Hilton Hotel at the San Diego Convention Center (San Diego, CA) – EMCOR subsidiaries Dynalectric San Diego and University Mechanical & Engineering Contractors, Inc. will provide its electrical and mechanical systems, including CATV, data, telephone, fire alarm/life safety and smoke control, voice/data and TV, CCTV video surveillance and security systems, and HVAC digital controls as well as audio visual speakers, electric projection screens and audio visual cabling. The 30-story, one-million-square foot facility will consist of 1,190 guest rooms, two ballrooms, 35 meeting rooms, a health club/spa, pool, two restaurants, and retail shops.
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. Additional information on EMCOR can be found at www.EMCORGroup.com.
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 second quarter ended June 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.
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