EMCOR Group, Inc. Subsidiary Awarded Contract For Cooling Tower Replacement At Smith International
NORWALK, CONNECTICUT, May 19, 2009 - 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, reported that, as previously noted on its 4/28/09 First Quarter Earnings Call, its Gowan, Inc. subsidiary has received a contract for the installation of a new cooling tower for Smith International, Inc. in Houston, Texas. Smith International is one of the largest global providers of products and services used during the drilling, completion and production phases of oil and natural gas development activities.
Gowan will be responsible for the installation of a new more energy efficient 16,000-ton, four-cell cooling tower. The tower will include four pumps with Variable Frequency Drives (VFD) that control the speed of the motors versus the traditional on/off switches, thereby producing greater energy savings. The scope of work includes installation of the pumps, new concrete work, a structural steel platform for new towers, a new control system, the painting of new piping, and new electrical wiring for the tower and pumps. Once the tower is assembled and operating, Gowan will perform a campus shutdown and will tie the piping from the new tower into the campus loop, at which time Gowan will demolish the old cooling towers, which had reached their life expectancy. Additionally, Gowan will install a chemical free water treatment system at the tower.
"This is a very important project that will not only help Smith International but will benefit the environment," said Mark Froman, President and CEO of Gowan. "We are proud to have been chosen for this project and that our work will contribute significantly to a more productive, energy efficient facility for Smith International."
About EMCOR Group, Inc.
A Fortune 500 company with estimated 2009 base revenues of $6.0 - $6.3 billion, EMCOR Group, Inc. (NYSE: EME) is a global leader in mechanical and electrical construction, energy infrastructure, and facilities services. A leading provider of critical infrastructure systems, EMCOR gives life to new structures and sustains life in existing ones by its planning, installing, operating, maintaining, and protecting the sophisticated and dynamic systems that create facility environments---such as electrical, mechanical, lighting, air conditioning, heating, security, fire protection, and power generation systems---in virtually every sector of the economy and for a diverse range of businesses, organizations and government. EMCOR represents a rare combination of broad reach with local execution, combining the strength of an industry leader with the knowledge and care of 170 locations. The 28,000 skilled employees of EMCOR have made the company, in the eyes of leading business publications, amongst the "World's Most Admired" and "Best Managed". 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 2008 Form 10-K, its Form 10-Q for the first quarter ended March 31, 2009, 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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