AECOM (NYSE:ACM), the world's #1-ranked engineering design firm,
announced today that an AECOM-led joint venture with CH2M Hill, commonly
known as UCOR, has been authorized by the U.S. Department of Energy
(DOE) to perform optional work within the existing contract to continue
cleanup of Tennessee's Oak Ridge Reservation.
The options exercised are valued at $104 million, against the current
$2.5-billion value of UCOR’s performance-based contract. Since beginning
work in August 2011, UCOR’s mission has been to remove environmental
hazards and millions of square feet of legacy facilities from the former
Oak Ridge Gaseous Diffusion Plant, now called East Tennessee Technology
Park, and repurpose the land and buildings for use by new job-creating,
commercial ventures. The joint venture is also responsible for cleanup
work at other DOE Oak Ridge Reservation sites, surveillance and
maintenance of select reservation facilities slated for demolition, and
disposal of wastes.
“We are grateful for DOE’s confidence in our performance and in our UCOR
employees, as expressed through this exercised work scope,” said James
Taylor, executive vice president and general manager of AECOM’s nuclear
and environment business unit. “We will continue our momentum in
completing cleanup of the East Tennessee Technology Park and move
forward with other critical initiatives designed to support cleanup and
preserve the history of this site.”
According to Taylor, UCOR’s impressive safety record during its tenure
played a role in the DOE’s decision to exercise the options, pointing
out that employees and subcontractors have worked more than three
million safe hours.
The scope calls for UCOR to continue cleanup of the East Tennessee
Technology Park while performing ongoing environmental-management
missions, such as facility surveillance and maintenance and various
waste management operations at the Oak Ridge National Laboratory and the
Y-12 Nuclear Security Complex. During this phase, UCOR will support the
construction of commemorative facilities as part of the National
Historic Preservation Project.
The Oak Ridge Gaseous Diffusion Plant – originally known as the K-25
Site – began operations during World War II as part of the Manhattan
Project. The wartime mission was to produce enriched uranium for use in
atomic weapons. The plant also produced uranium for the commercial
nuclear power industry from 1945 until 1985.
UCOR is a joint venture between URS, which is now part of AECOM, and
CH2M Hill. UCOR is responsible for cleanup of the East Tennessee
Technology Park (formerly the Oak Ridge Gaseous Diffusion Plant) as well
as other sites on the Department of Energy’s Oak Ridge Reservation.
About AECOM
AECOM is a premier, fully integrated professional and technical services
firm positioned to design, build, finance and operate infrastructure
assets around the world for public- and private-sector clients. With
nearly 100,000 employees — including architects, engineers, designers,
planners, scientists and management and construction services
professionals — serving clients in over 150 countries around the world,
AECOM is ranked as the #1 engineering design firm by revenue in Engineering
News-Record magazine’s annual industry rankings, and has been
recognized by Fortune magazine as a World’s Most
Admired Company. The firm is a leader in all of the key markets that it
serves, including transportation, facilities, environmental, energy, oil
and gas, water, high-rise buildings and government. AECOM provides a
blend of global reach, local knowledge, innovation and technical
excellence in delivering customized and creative solutions that meet the
needs of clients’ projects. A Fortune 500 firm, AECOM
companies, including URS Corporation and Hunt Construction Group, had
revenue of approximately $19 billion during the 12 months ended Dec. 31,
2014. More information on AECOM and its services can be found at www.aecom.com.
Forward-Looking Statements: All statements in this press release
other than statements of historical fact are "forward-looking
statements" for purposes of federal and state securities laws, including
statements relating to the future value and performance of our service
agreement as well as future economic and industry conditions. Actual
results could differ materially from those projected or assumed in any
of our forward-looking statements. Important factors that could
cause actual results to differ materially from our forward-looking
statements are set forth in our quarterly report on Form 10-Q for the
fiscal quarter ended Dec. 31, 2014, and our other reports filed with the
U.S. Securities and Exchange Commission. AECOM does not intend,
and undertakes no obligation, to update any forward-looking statements.
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