URS awarded $90 million master services agreement with Dow Chemical

Sept. 30, 2002
URS Corp. announced that it has been awarded a new master services agreement with Dow Chemical, under which it will provide comprehensive environmental services to Dow.

SAN FRANCISCO, Sept. 30, 2002 -- URS Corp. announced that it has been awarded a new master services agreement with Dow Chemical, under which it will provide comprehensive environmental services to Dow.

Under the terms of the new contract, which follows the expiration of a prior master services agreement between URS and Dow, URS will be addressing environmental health and safety requirements at active Dow facilities, performing environmental remediation at older and unused facilities and conducting environmental due diligence. The three-year contract is expected to generate revenue to URS of $30 million per year, or a total of $90 million.

Commenting on the contract, Martin M. Koffel, URS Chairman and CEO, said: "We are very pleased to carry on and expand our longstanding relationship with Dow Chemical. URS continues to see global corporations like Dow utilizing fewer, larger contracts that enable them to outsource their environmental engineering and compliance work. This trend is providing URS with many excellent opportunities, as we are one of the few firms with the scale, geographic coverage and skill set to win these types of assignments."

URS has worked with Dow Chemical for more than 13 years. Currently, under a separate, ongoing contract, URS is providing environmental services at Dow sites in Europe, South Africa and Turkey.

URS Corporation offers a broad range of planning, design, program and construction management, system integration and operations and maintenance services for transportation, hazardous waste, industrial processing and petrochemical, general building, water/wastewater, military facilities and equipment platforms and security projects. Headquartered in San Francisco, the Company operates in 20 countries with approximately 26,000 employees providing engineering services to federal, state and local governmental agencies as well as private clients in the chemical, manufacturing, pharmaceutical, forest products, mining, oil and gas, and utilities industries (www.urscorp.com).

SOURCE: URS Corporation

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