Mayor Villaraigosa Praises Tutor’s Decision as a “Great Day for
Jobs in Los Angeles”
LOS ANGELES--(BUSINESS WIRE)--Oct. 20, 2009--
Tutor Perini Corporation (NYSE: TPC), a leading civil and building
construction company, today formally announced that it has moved its
world headquarters to Los Angeles at a celebration attended by Los
Angeles Mayor Antonio Villaraigosa and leaders from business groups,
union labor groups, and community organizations.
Following the merger between Tutor-Saliba Corporation and
Massachusetts-based Perini Corporation, Tutor Perini’s Chairman and CEO
Ronald N. Tutor made the decision to move the world headquarters to the
San Fernando Valley of Los Angeles. The combined company, which
generated over $5.6 billion in revenues in 2008, has relocated from the
Boston area, where Perini had been headquartered for more than a century.
“I believe in Los Angeles,” said Tutor, a Los Angeles native and son of
Armenian immigrants who built the company from a small local builder
into one of the world’s largest construction companies. “I’m proud of
the contributions we’ve made to the Los Angeles economy and I’m looking
forward to bringing more jobs and infrastructure improvements to my
hometown.”
Tutor added: “I want to thank the people of Los Angeles, and
particularly Mayor Villaraigosa for his focus on economic development
and his personal role in encouraging Tutor Perini to make Los Angeles
its home.”
“This is a great day for jobs in Los Angeles,” said Mayor Villaraigosa.
“Tutor Perini is responsible for many of our city’s most significant and
successful public works projects, from the LEED Gold certified Police
Headquarters to the runway expansion at Los Angeles International
Airport,” added the Mayor. “Thank you Ron Tutor for believing in Los
Angeles.”
Recognizing the important benefits of Tutor Perini’s decision, Mayor
Villaraigosa presented Mr. Tutor with a commendation praising his
leadership and thanking Tutor Perini for choosing Los Angeles.
Tutor Perini’s decision could lead to thousands of jobs for LA and
California in the coming years. At any one time, as many as 3,000
salaried staff and 25,000 skilled craftsmen work on Tutor Perini
projects. The company recently completed the $234 million Los Angeles
Police headquarters building ahead of schedule and under budget.
Other critical projects built in California by Tutor Perini include UCLA
Westwood Hospital ($542 million), Los Angeles International Airport
runway expansion ($242 million), San Francisco International Airport
reconstruction program ($1.1 billion), Alameda Corridor ($783 million),
BART subway extension ($710 million) and the Richmond/San Rafael Bridge
retrofit ($762 million). In addition, Tutor Perini projects in Las Vegas
include the Wynn Encore ($1.4 billion), Planet Hollywood Towers ($530
million), Cosmopolitan Resort ($2.3 billion), McCarran International
Airport Terminal 3 ($1.2 billion) and the largest ever private
construction contract – the $6 billion MGM Mirage CityCenter project.
About Tutor Perini Corporation (NYSE: TPC)
Tutor Perini Corporation is a leading civil and building construction
company offering diversified general contracting and design/build
services to private clients and public agencies throughout the world. We
have provided construction services since 1894 and have established a
strong reputation within our markets by executing large complex projects
on time and within budget while adhering to strict quality control
measures.
We offer general contracting, pre-construction planning and
comprehensive project management services, including the planning and
scheduling of the manpower, equipment, materials and subcontractors
required for a project. We also offer self-performed construction
services including excavation, concrete forming and placement, steel
erection, electrical and mechanical services, plumbing and HVAC. We are
known for our major complex building project commitments as well as our
capacity to perform large and complex transportation and heavy civil
construction for government agencies and private clients throughout the
world.
Source: Tutor Perini Corporation
Kekst and Company
Douglas Kiker, 212-521-4800
or
Tutor
Perini Corporation
Kenneth R. Burk, 818-362-8391
Executive
Vice President & Chief Financial Officer
