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Tuesday, May 17, 2022

Tutor Perini Joint Venture Lands Contract in Guam

A joint venture between Tutor Perini Corp. and Black Construction received two contracts valued at a combined $122 million for projects for the U.S. Marine Corps on Guam.

A joint venture between Tutor Perini Corp. and Black Construction received two contracts valued at a combined $122 million for projects for the U.S. Marine Corps on Guam.

Tutor Perini in Sylmar said the contracts would be included in its second quarter backlog.

The Black Construction-Tutor Perini joint venture was awarded a $73 million orders for the construction of low-rise facilities to support the 4th Marine Regiment, Marine Corps Base Guam, according to a release from the company.

The work, expected to be completed by August 2024, includes building of an electronics-communications maintenance shop, auto maintenance shop with dispatch office, administrative space and vehicle wash facilities.

The joint venture also received a $49 million order for construction work at Andersen Air Force Base on the U.S. island territory. The work, also expected to be completed by August 2024, includes construction a permanent aviation administrative building to provide command and administrative areas for Marine Aircraft Group Headquarters, Marine Air Control Group Detachment and air operations personnel, according to the Tutor release.

Leonard Kaae, Black Construction’s senior vice president and general manager said the company has seen a demand for its services, particularly because of the Marine Corps transferring military personnel from Okinawa to Guam.

“Over the past four years, Black has been awarded more than $1.25 billion of projects funded by the U.S. Department of Defense, and we anticipate that sustained strong demand for our services will continue over at least the next five years,” Kaae said in a statement.

Shares of Tutor Perini (TPC) closed down on Monday 28 cents, or nearly 2.9 percent, to $9.47 on the New York Stock Exchange, on a day when the Dow Jones closed down 2 percent.

 

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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