Key Developments For KSW, Inc.
KSW, Inc. (KSW.O) (Consolidated Issue listed on NASDAQ Global Market)
KSW, Inc. Joint Venture Receives Award Of World Trade Center Chiller Plant Project
KSW, Inc. announced that a joint venture between the Company and Five Star Electrical Corp. (an EOS Company) has received the formal notice of award of the contract for the new World Trade Center Chiller Plant from the Port Authority of New York and New Jersey. The total amount of the contract is $46,190,000. KSW will be responsible for the mechanical portion of the Contract, while Five Star will be responsible for the electrical work. The companies will share in the balance of the contract.
KSW, Inc. Announces Resumption Of 42nd Street Project
KSW, Inc. announced that the luxury residential/hotel project to be built on 42nd Street and 10th Avenue is proceeding, subject only to the formal execution of the already negotiated Project Labor Agreement (PLA), and that KSW Mechanical Services, Inc. has been awarded the HVAC contract. This project had previously been awarded to the Company but was placed on hold in December 2008 as a result of economic conditions. The new contract, valued between $25.75 million and $27.25 million (depending on the acceptance of certain alternates), was not included in the Company's backlog as of July 30, 2009.
KSW, Inc. Declares Cash Dividend
KSW, Inc. announced that its Board of Directors has declared a cash dividend of $0.10 per share, payable on July 17, 2009 to shareholders of record as of June 29, 2009.
KSW, Inc. AnnouncesStockBuy Back
KSW, Inc. announced that its Board of Directors has approved a stock repurchase program that authorizes the Company to buy up to $1,000,000 of its common stock. The Company will purchase shares from the open market under Rule 10-b-18 from time to time using existing cash or from future free cash flows. The plan will be effective through June 30, 2009.
KSW, Inc. Receives Contract for Downtown Luxury Building
KSW, Inc. announced that through its subsidiary, KSW Mechanical Services, Inc. it had been selected to furnish the HVAC systems for a new 55 story, residential tower in Downtown Manhattan. The contract is valued between $24 million and $25 million, depending on selected alternates.
