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KSW Awarded New Projects by Chetrit Group/Stellar Management
Publish Date : 12/27/2007 7:56:00 AM   Source : IT and Management News Onlypunjab.com

KSW, Inc. (NASDAQ: KSW) announced today that it in the month of December, it received $9,000,000 in additional contract work with the Chetrit Group/Stellar Management. This includes three new buildings, with luxury apartments and retail space, on Columbus Avenue on the Upper West Side. KSW is currently providing mechanical services on two other projects for this developer on the Upper West Side. Tishman Construction Corporation of New York will be the construction manager on the new projects.

Chairman of the Board, Floyd Warkol, commented: “KSW’s ability to reduce this developer’s costs through value engineering was instrumental to securing these new projects.”

At the end of December, 2007, the Company’s backlog will be approximately $111,000,000, not including the construction costs relating to the newly awarded Mount Sinai project, currently estimated at $58,000,000.

About KSW

KSW, Inc., through its wholly-owned subsidiary, KSW Mechanical Services, Inc., furnishes and installs heating, ventilating and air conditioning (HVAC) systems and process piping systems for institutional, industrial, commercial, high-rise residential and public works projects. KSW Mechanical Services, Inc. also acts as Trade Manager on larger construction projects, such as the New York Presbyterian Cardiovascular Center.

For further information, please visit our website at www.kswmechanical.com.

Safe Harbor Statement

Certain statements contained in this press release are not historical facts, and constitute “forward-looking statements” (as such term is defined in the Private Securities Litigation Reform Act of 1995). These forward looking statements generally can be identified as statements that include phrases such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “foresee”, “likely”, “should”, “will” or other similar words or phrases. Such forward-looking statements concerning management’s expectations and other similar matters involve known and unknown risks, uncertainties and other important factors that could cause the actual results to differ materially from any future results, performance or achievements discussed or implied by such forward-looking statements. Such risks, uncertainties, and other important factors that could cause actual results to differ materially from expectation of the Company include, among others, the outcome of the year-end audit and further internal review of the Company’s historical financial statements. All written and oral forward-looking statements of or attributable to the Company or persons acting on behalf of the Company are qualified in their entirety by such factors. The Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which the forward-looking statement is based.



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