KSW, Inc. (NASDAQ GM: KSW) today announced that a Joint Venture between the Company and Five Star Electrical Corp. (an EOS Company) has received the formal Notice of Award of the contract for the new World Trade Center Chiller Plant from the Port Authority of New York and New Jersey.
The total amount of the contract is $46,190,000. KSW will be responsible for the mechanical portion of the Contract, while Five Star will be responsible for the electrical work. The companies will share in the balance of the contract.
The Company had previously announced that the Joint Venture was the apparent low bidder on the Contract, but had not included it in its backlog.
With this prestigious new project, the Company’s backlog at September 30, 2009 is expected to be approximately $129,000,000.
About KSW
KSW, Inc., through its totally-owned mechanical subsidiary KSW Mechanical Services, Inc., furnishes and installs heating, ventilating and air conditioning (HVAC) systems and process piping systems for institutional, industrial, commercial, high-rise residential and public works projects. KSW Mechanical Services, Inc. also acts as trade manager on larger construction projects, such as New York Presbyterian Cardiovascular Center.
Safe Harbor Statement
Certain statements contained in this press release are not historical facts, and constitute “forward-looking statements” (as such term is defined in the Private Securities Litigation Reform Act of 1995). These forward looking statements generally can be identified as statements that include phrases such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “foresee,” “likely,” “should,” “will” or other similar words or phrases. Such forward-looking statements concerning management’s expectations and other similar matters involve known and unknown risks, uncertainties and other important factors that could cause the actual results to differ materially from any future results, performance or achievements discussed or implied by such forward-looking statements. Such risks, uncertainties, and other important factors that could cause actual results to differ materially from expectations of the Company include, among others, the outcome of the year end audit, and further internal review of the Company’s historical financial statements. All written and oral forward-looking statements of or attributable to the Company or persons acting on behalf of the Company are qualified in their entirety by such factors. The Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which the forward-looking statement is based.
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KSW, Inc.
James Oliviero, 718-340-1409
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