This news isn't too shabby:
Tuesday July 6, 9:33 am Eastern Time
Company Press Release
SOURCE: The Wackenhut Corporation
Wackenhut Correctional Facilities In
Arkansas To Be Expanded By 600
Beds
PALM BEACH GARDENS, Fla., July 6 /PRNewswire/ -- Two Arkansas prison facilities managed
by Wackenhut Corrections Corporation (NYSE: WHC - news) and housing inmates for the
Arkansas Department of Correction (A.D.C.), have been selected for a prison expansion project
totaling 600 beds.
Wackenhut Corrections has been selected by the State of Arkansas to expand its 600-bed facility
for young adult male offenders into a 1000-bed facility; and to expand its 600-bed facility for adult
female offenders to accommodate 800 beds. Both facilities are located in Newport, Arkansas.
Dr. George C. Zoley, vice chairman and chief executive officer of Wackenhut Corrections, said,
''This expansion provides the Arkansas Department of Correction with a cost-effective method of
meeting a critical need for inmate bed space within the state. We appreciate the continued support
we have received from the host community and the confidence placed in us by the Department of
Correction.''
Construction of the expansions is expected to begin in October, 1999, for an opening in the third
quarter, 2000. Wackenhut expects to negotiate the management contract for the expanded
population with the Arkansas Board of Correction and Community Punishment in the coming months.
Both facilities have been in operation since January 20, 1998, when Wackenhut completed their
development, to include the design and construction. The facilities, the Scott Grimes Correctional
Facility for young adult males and the Ronald McPherson Correctional Facility for adult females,
were named after Arkansas correctional officers who had been killed in the line of duty.
Wackenhut conducts extensive inmate programs at locations, to include academic education;
vocational training; life skills; substance abuse treatment, education and counseling; mental health
counseling; anger management; parenting; recreation, and religious/chaplaincy programs.
Wackenhut Corrections, a world leader in the privatized corrections industry, now has
contracts/awards to manage 54 correctional/detention facilities in North America, Europe,
Australasia and South Africa with a total of 36,621 beds. It also has contracts for mental health
services, prisoner transportation, correctional health care services, and electronic monitoring.
Wackenhut Corrections (NYSE: WHC - news) is a subsidiary of The Wackenhut Corporation
(NYSE: WAK - news and WAKB - news) and offers government agencies a turnkey approach to
developing new correctional institutions that includes design, construction, financing and operations. It
provides a broad spectrum of correctional services, which include adult corrections, juvenile facilities,
community corrections and special purpose institutions.
This press release contains forward-looking statements regarding future events and future
performance of the Company that involve risks and uncertainties that could materially affect actual
results. Investors should refer to documents that the Company files from time to time with the
Securities and Exchange Commission for a description of certain factors that could cause actual
results to vary from current expectations and forward- looking statements contained in this press
release. Such filings include, without limitation, the Company's Form 10-K, Form 10-Q and Form
8-K reports.
SOURCE: The Wackenhut Corporation
More Quotes
and News:
Wackenhut Corp (NYSE:WAKb - news; NYSE:WAK - news)
Wackenhut Corrections Corp (NYSE:WHC - news)
Help
Copyright © 1999 PRNewswire. All rights reserved. Republication or redistribution of PRNewswire content is
expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any
errors or delays in the content, or for any actions taken in reliance thereon.
See our Important Disclaimers and Legal Information. |
