Willdan Awarded $67 Million Contract by Con Edison
Category: Press Release
Aug 25, 2009
ANAHEIM, Calif., - (BUSINESS WIRE) - August 25, 2009 – Willdan Group, Inc. ("Willdan") (NASDAQ: WLDN), today announced that its wholly-owned subsidiary, Willdan Energy Solutions (WES), was awarded a $67 million contract with Consolidated Edison Company of New York, Inc., (Con Edison), a subsidiary of Consolidated Edison, Inc., (NYSE: ED), to implement Con Edison's new energy efficiency program for small business customers. The initial contract work will commence in the current quarter, with most of the work scheduled to be completed by the end of 2011.
The program is one of several designed by Con Edison to help the State of New York achieve its energy and greenhouse gas emissions reduction goals. It will offer small business customers free energy surveys, pay up to 70 percent of the installed cost for most energy-saving measures, and install, at no charge to the customer, equipment such as compact fluorescent lamps, water faucet aerators, and high pressure rinse valves.
As the program implementation contractor, WES' responsibilities will span marketing outreach, completing on-site energy efficiency surveys, implementing energy-saving projects, and partnering with the community and local businesses. A pioneer in the nation's energy efficiency and water conservation activities, WES has paced the industry in managing programs and projects that result in substantial energy savings. Its rapid growth has been fostered by its exceptional engineering expertise, versatility, solid management acumen, and innovative solutions to their clients' challenges.
"WES has implemented and managed some of the most successful energy efficiency programs in the country," explains WES President, Jay Bhalla. "We look forward to leveraging our expertise in support of Con Edison's ambitious energy efficiency program, as well as enlarging the footprint of Willdan's Northeast Operations."
About Willdan Energy Solutions
WES is one of the nation's preeminent energy efficiency and sustainability consultant firms, providing specialized energy, water, and resource management services to create innovative and effective solutions to challenging problems. WES' subject matter experts and key staff-with more than 20 years combined experience in the energy, sustainability, and information technology fields-provide services that include energy efficiency and water conservation project implementation, sustainability and renewable energy design, and information technology for the utility industry. WES also provides hardware retrofits and retro-commissioning activities for large commercial, lodging, and medical facilities; introduce and develop markets for new technologies; and provide energy efficiency education and coordinate local government partnerships.
WES works with utilities on energy efficiency program design, provides mechanical and electrical engineering support services, conducts audits, and consults with clients on corporate energy initiatives, sustainability, and administering conservation programs. In addition, WES conducts energy analysis and financial return on investment discoveries, and provides energy efficiency education and training services to client employees.
About Willdan Group, Inc.
Founded over 40 years ago, Willdan Group, Inc. is a provider of outsourced and consulting services to public agencies located primarily in California and other western states. Willdan Group, Inc. assists cities and other government agencies and, to a lesser extent, private industry and public utilities with a broad range of services, including civil engineering, building and safety services, geotechnical engineering, energy efficiency, water conservation, renewable resource strategy, financial and economic consulting, and disaster preparedness and homeland security. For additional information visit Willdan's web site www.willdan.com.
About Con Edison
Con Edison is a subsidiary of Consolidated Edison, Inc. (NYSE: ED), one of the nation's largest investor-owned energy companies, with approximately $14 billion in annual revenue and $34 billion in assets. The utility provides electric, gas and steam service to more than 3 million customers in New York City and Westchester County, New York. For additional financial, operations and customer service information, visit Con Edison's website at www.coned.com.
Safe Harbor Statement: Statements in this press release which are not purely historical, including statements regarding Willdan Group's intentions, hopes, beliefs, expectations, representations, projections, estimates, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risk that the Company will not be able to expand its services or meet the needs of customers in markets in which it operates. It is important to note that the Company's actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, a slowdown in the local and regional economies of the states where Willdan conducts business and the loss of or inability to hire additional qualified professionals. The Company's business could be affected by a number of other factors, including the risk factors listed from time to time in the Company's SEC reports including, but not limited to, the Form 10-K annual report for the year ended January 2, 2009 filed on April 2, 2009. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Willdan Group, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.
Willdan Group, Inc.
Chief Financial Officer
Financial Profiles, Inc.