NV5 Global Inc.
12/03/2021 | Press release | Distributed by Public on 12/03/2021 22:15
NV5 Awarded $4 Million in Middle East Building Engineering and Technology Projects
HOLLYWOOD, Fla., Nov. 29, 2021 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the "Company" or "NV5") (Nasdaq: NVEE), a provider of compliance, technology, engineering, and environmental consulting solutions, announced today that it has been awarded $4 million in building engineering and technology projects in the Middle East. The projects include new construction and refurbishment of existing structures in the United Arab Emirates and the Kingdom of Saudi Arabia. NV5 will provide design services for mechanical, security, and audiovisual systems.
"We are pleased to have been selected for these high-profile projects which will contribute to the continued growth of our international business in the Middle East and Asia," said Dickerson Wright, PE, Chairman & CEO of NV5. "Our strategy of delivering full mechanical and technology systems design, as well as ongoing commissioning and energy efficiency gives us a competitive advantage and has driven the expansion of our international operations."
In Saudi Arabia, NV5 will provide mechanical engineering for the conversion of a historic palace in Riyadh into a seven-star luxury hotel. In the United Arab Emirates, NV5 will deliver HVAC and technology system design services for the redevelopment of four schools and a five-star desert resort in Dubai, as well as a mixed-use hospitality and residential project in Sharjah consisting of four towers on a common podium.
"These wins contribute to the growth of our Middle Eastern business as we work to support the Kingdom of Saudi Arabia and the United Arab Emirates as they progress toward their 2030 and 2050 plans," said Ivor Jarman, Executive Vice President of International Operations at NV5.
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of compliance, technology, engineering, and environmental consulting solutions for public and private sector clients supporting sustainable infrastructure, utility, and building assets and systems. The Company focuses on multiple verticals: testing, inspection & consulting, infrastructure, utility services, buildings & program management, environmental health sciences, and geospatial technology services to deliver innovative, sustainable solutions to complex issues and improve lives in our communities. NV5 operates out of more than 100 offices nationwide and abroad. For additional information, please visit the Company's website at www.NV5.com. Also visit the Company on LinkedIn, Twitter, Facebook, and Instagram.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the "Risk Factors" set forth in the Company's most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law.
Investor Relations Contact
NV5 Global, Inc.
Jack Cochran
Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email: [email protected]