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Flatiron secures $70M contract to construct new Lake Champlain Bridge project

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(Longmont, Colo.) June 8, 2010 - Flatiron, one of the nation's largest transportation and infrastructure contractors, was awarded a $69.6 million contract by the New York State Department of Transportation to construct a bridge that will connect Crown Point, N.Y., and Chimney Point, Vt. Flatiron was the low bidder of eight contractors vying for the contract. The project is the company's first in New York.

The original 80-year-old bridge was demolished in December because inspections deemed it unsafe. The new bridge, spanning 2,200 feet over a narrow stretch of southern Lake Champlain, will be constructed with conventional steel girder approaches and a modified network tied-arch main span. The main span will be assembled on land and then floated and hoisted into position.

New York and Vermont state officials listen to Flatiron's Mark Mallett during ground breaking ceremonies for the Lake Champlain Bridge.

AUDIO: Flatiron's Mark Mallett, project manager, talks about the Lake Champlain Bridge project.

Construction has begun with completion slated for the fall of 2011. Eighty percent of the project's total cost is being funded by the federal government. The balance of funding will be split evenly by Vermont and New York state governments.

"We are excited to have this opportunity to work in New York and look forward to more opportunities in the area," said Tom Rademacher, Flatiron CEO. "We anticipate a successful partnership with NYSDOT."

Flatiron, with a construction volume of $1.04 billion in 2009, is one of the leading providers of transportation construction and civil engineering in North America. Its core competencies include major bridge, highway and rail projects. Flatiron also operates as a contractor in public-private partnership projects. Founded in 1947, the firm is a subsidiary of HOCHTIEF, one of the world's leading international construction service providers. Further information is available at http://www.flatironcorp.com//.

HOCHTIEF is one of the leading international providers of construction-related services. With more than 66,000 employees and a sales volume of EUR 18.17 billion in FY 2009, the company is represented in all the world‘s major markets. The Group's service offering in the fields of development, construction, services, concessions and operation covers the entire life cycle of infrastructure projects, real estate and facilities. In the USA, the biggest construction market in the world, HOCHTIEF is the No. 1 general builder via its subsidiary Turner and, with Group company Flatiron, ranks among the most important players in the field of transportation infrastructure construction. With its subsidiary Leighton (HOCHTIEF share around 55 percent), the Group is market leader in Australia. Because of its engagement for sustainability, HOCHTIEF has been listed in the Dow Jones Sustainability Indexes since 2006. Further information is available at www.hochtief.com/press.

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