EMCOR Group, Inc. Subsidiary Awarded Contract For MTA New York City Transit Substation Rehabilitation
NORWALK, CONNECTICUT, April 10, 2008 - 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, announced that its Welsbach Electric Corp. subsidiary has been awarded a contract to provide electrical and civil/structural construction services for Metropolitan Transit Authority New York City Transit’s (NYC Transit) rehabilitation of its Dyckman and 73rd Street substations.
Welsbach Electric will furnish and install Direct Current (DC) switchgear and associated equipment at the Dyckman Substation and a Power Rectifier Transformer at the 73rd Street & Central Park West Substation, and construct and equip a new circuit breaker house in the subway near the Dyckman Substation. The work will include installing, connecting, testing, and placing into operation power equipment consisting of switchgear, control circuits, and other electrical facilities and connections, as well as installation of distribution transformers and associated cables to provide power to the new circuit breaker house and existing NYC Transit 600V contact rails. The project will also include the removal and disposal of all old equipment and civil and structural upgrades at each location.
“For over 100 years we have been working with many New York City and New York State agencies, including the New York City Transit Authority, to provide electrical and mechanical construction services to power the infrastructure that makes the city run smoothly. We look forward to getting started on this latest project,” said Keith Carney, President and CEO of Welsbach Electric.
About EMCOR Group, Inc.
A Fortune 500 company with over $5.9 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 170 locations worldwide. The 29,000 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 2007 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.
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