Tutor Perini Corporation Announces Bid Results and New Contracts Totaling $2.9 Billion

July 9, 2012

SYLMAR, Calif.--(BUSINESS WIRE)--Jul. 9, 2012-- Tutor Perini Corporation (NYSE: TPC) a leading civil and building construction company, today announced that it recently has been awarded approximately $2 billion in new work and over $890 million in pending awards. Currently, Tutor Perini is actively working to negotiate and bring the new work under formal contract over the next few months.

Building Group

Tutor Perini Corporation's Building Group was recently awarded approximately $1.5 billion in new work and was listed as the low bidder on an additional $200 million in pending awards.

Tutor Perini Building Corp., formerly known as Perini Building Company, was awarded approximately $1.2 billion in new work, including:

Hudson Yards Tower C Project for Related Companies and Oxford Properties Group in New York City. Tutor Perini was retained as the contractor for the Tower C development project in Midtown Manhattan. The Tower C Project, part of the overall Hudson Yards Development Project, includes a 1.7 million square-foot office tower.
500 West 30th Street Project in New York City for Related Companies, which is developing the property with Abington Properties. The project is located in the West Chelsea neighborhood, an area that is undergoing significant revitalization. The project is adjacent to Hudson Yards and includes a 32-story tower with 386-residential rental units, retail space, and parking.
Graton Resort & Casino Project near Rohnert Park, CA for the Federated Indians of Graton Rancheria. Tutor Perini will work in conjunction with their developer, Station Casinos LLC. The project includes a 135,000 square-foot casino, an entertainment venue, high-end restaurants and the Market Place food court.

James A. Cummings, Inc. was awarded $245 million in new work, including:

$178 million for Broward County Courthouse Project in Fort Lauderdale, FL. The new facility includes a new 20-story, 741,000 square-foot civil and family courthouse that includes 45 full-size courtrooms, 12 smaller courtrooms, 18 hearing rooms, staff and support space, pedestrian bridge and improvements to east wing of the existing courthouse facility.
$30 million for Florida Atlantic University Dormitory Project located on their Boca Raton campus.
$22 million for Terminal 4 Western Expansion Project at Fort Lauderdale-Hollywood International Airport in Florida.

Roy Anderson Corp. was awarded $35 million in new work, including the THAAD Instructional Facilities project. This new facility will be constructed at Fort Sill Army depot in Lawton, OK and will include classrooms, offices, and various training related areas.

Rudolph & Sletten, Inc. was awarded $60 million in new work, including Red Bluff Courthouse in Tehama County California. This new facility will house five courtrooms and related facilities.

Civil Group

Tutor Perini Corporation's Civil Group was recently awarded $51 million in new work and was listed as the low bidder on approximately $525 million in pending awards. The $51 million of new work was awarded to Tutor Perini's subsidiary Lunda Construction Company. The $525 million in pending awards includes notification by two different clients that Tutor Perini is the apparent low bidder at $239 million on the San Francisco MTA Chinatown Station public transportation project in downtown San Francisco and at $235 million on the Verrazano Bridge Upper Deck Replacement in New York City.

Specialty Contractors Group

Tutor Perini Corporation's Specialty Contractors Group was recently awarded over $315 million in new work and was listed as the low bidder on over $170 million in pending awards.

Fisk Electric Company was awarded approximately $151 million in new subcontract work for several projects including the SR 99 Bored Tunnel Project in Seattle, WA; and the Graton Rancheria Casino in Rohnert Park, CA.

Desert Mechanical, Inc. was awarded $117 million in new subcontract work for several projects including the SR 99 Bored Tunnel Project in Seattle, WA; LINQ Caesars project in Las Vegas, NV and Fort Irwin Hospital in Fort Irwin, CA.

Five Star Electric Corporation, WDF, Inc., and Nagelbush Mechanical, Inc. were awarded in excess of a combined $40 million in several new subcontracts in the New York City and/or South Florida areas. In addition, Superior Gunite was awarded $11 million in new subcontracts in the eastern and western United States.

Management Services Group

Tutor Perini Corporation's Management Services Group was recently competitively awarded $94 million in new work by The U.S. Army Corps of Engineers, Middle East District, as a task-order under an existing multiple award contract.

The overall project, which is funded by the Afghan Infrastructure Program, supports the Southeast Electrical Power System initiatives in southern Afghanistan. The specific project - Helmand substations and electrical transmission lines - is a critical infrastructure project for the region and will increase the provision of electrical power from the Kajaki Dam power house on the Helmand River through the Helmand Province. It consists of the design and construction of three electrical substations and a 110kV switchyard; the repair of existing 110kV electrical transmission lines; and construction of two 20kV transmission lines.