LOWELL, MA — (Marketwire) — 03/12/12 — (NYSE: TRR) today announced that it has formed a strategic partnership with , a leading provider of environmental, health, safety and sustainability (EHS) consulting services based in San Jose, California. Under the agreement, TRC will acquire all assets of EORM–s East Region Operations based in Danvers, Massachusetts. Financial terms of the agreement were not disclosed.
EORM provides a comprehensive range of strategic, management and technical EHS and sustainability consulting solutions including assessment, compliance, risk management, reporting, training and communication. EORM–s East Region Operations serves a client base primarily within the manufacturing sector.
“The acquisition of EORM–s East Region Operations is a great fit and further enhances TRC–s position in the Environmental Management, Sustainability and Safety market and within the industrial sector as a whole complementing our recent acquisitions of RMT Environmental and The Payne Firm,” said Chairman and Chief Executive Officer . “These markets represent an attractive growth opportunity for TRC as business and industry contend with an increasing array of environmental regulations, corporate requirements, and stakeholder expectations for transparency. EORM–s East Region consulting services will add depth to our own Environmental Management and Sustainability (EMS) services, strengthening our cross-selling opportunities and ability to pursue larger, high-margin projects through our combined operations. EORM has an outstanding reputation in the markets it serves and we welcome their talented staff to TRC.”
Glenn B. Fishler, President and CEO of EORM, said, “TRC is a highly regarded company with a well-earned and established reputation in the industry. EORM–s clients will benefit from TRC–s depth of environmental service offerings, expertise and customer-focused business philosophy. This deal allows EORM to continue to focus its strategic growth in the Western United States while partnering with a national firm in areas that will be mutually beneficial. Our East Region Operations staff looks forward to joining TRC and operating as part of a larger company with a strong EMS growth strategy that will provide added services and value to our clients.”
This strategic partnership leverages the geographic locations and consulting strengths of TRC–s and EORM–s offices to give both firms added depth and reach. It enables EORM to better serve their existing clients– East Coast and Mid-West needs; adds to TRC–s Environmental Management Sustainability services and resources on the West Coast; and, together, enables the two firms to partner nationally on a full range of project types.
Vincze concluded, “This partnership with EORM represents another milestone as we execute on our growth strategy, which strikes a balance between investing in organic growth, strategic partnerships and acquisitions to drive profitability and value to our clients and shareholders.”
A pioneer in groundbreaking scientific and engineering developments since the 1960s, TRC is a national engineering, consulting and construction management firm that provides integrated services to the , and markets. TRC serves a broad range of clients in and industry, implementing complex projects from initial concept to delivery and operation. TRC delivers results that enable clients to achieve success in a complex and changing world. For more information and updates from the Company, visit TRC–s website at and follow us on Twitter at and on .
Certain statements in this press release may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You can identify these statements by forward-looking words such as “may,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” or other words of similar import. You should consider statements that contain these words carefully because they discuss TRC–s future expectations, contain projections of the Company–s future results of operations or of its financial condition, or state other “forward-looking” information. TRC believes that it is important to communicate its future expectations to its investors. However, there may be events in the future that the Company is not able to accurately predict or control and that may cause its actual results to differ materially from the expectations described in its forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, and actual results may differ materially from those discussed as a result of various factors, including, but not limited to, the availability and adequacy of insurance; the uncertainty of our operational and growth strategies; circumstances which could create large cash outflows, such as contract losses, litigation, uncollectible receivables and income tax assessments; regulatory uncertainty; the availability of funding for government projects; the level of demand for TRC–s services; product acceptance; industry-wide competitive factors; the ability to continue to attract and retain highly skilled and qualified personnel; and general political or economic conditions. Furthermore, market trends are subject to changes, which could adversely affect future results. See the risk factors and additional discussion in TRC–s Annual Report on Form 10-K for the fiscal year ended June 30, 2011, Quarterly Reports on Form 10-Q, and other factors detailed from time to time in the Company–s other filings with the Securities and Exchange Commission.
Sharon Merrill Associates
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Thomas W. Bennet, Jr.
CFO
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