Wednesday July 15, 8:57 am Eastern Time
Company Press Release
SOURCE: Wackenhut Corrections
Wackenhut Corrections Selected For Prison
Contract In South Africa
PALM BEACH GARDENS, Fla., July 15 /PRNewswire/ -- Wackenhut Corrections
Corporation (NYSE: WHC - news) announced today that its South African consortium,
South African Custodial Services (SACS), has been selected by the Government of
South Africa as the Preferred Tenderer for the design, construction, financing and
operation of a 1,500-bed remand center (pre-trial detention facility) in Boksburg,
Gauteng Province.
The SACS consortium had submitted bids for the design, construction and operation of
two other 1,500-bed maximum security prisons which were placed out for tender by the
government at the same time. SACS was selected as the ''runner up'' Tenderer for the
facility to be built at Bloemfontein, and as one of two Tenderers for the Louis Trichart
facility, for which a Preferred Tenderer has not yet been selected. No runner-up
Tenderer was selected for the Boksburg award.
Dr. George C. Zoley, vice chairman and chief executive officer of Wackenhut
Corrections said, ''We are delighted that the South African Government has selected
our consortium for contract negotiations. We look forward to working closely with
government representatives to address all contract issues quickly in order to achieve
the government's objectives in this historic public-private partnership.''
Wackenhut Corrections' partner in South African Custodial Services (SACS) is Kensani
Consortium Pty. Ltd., with African Merchant Bank serving as financial advisors and
merchant bank. Contract negotiations are scheduled to begin next week in Pretoria with
representatives of the South African Government.
These three projects, and a youth facility also announced by the government today,
represent the first prisons to be privatized by a government on the African continent.
Wackenhut is the industry leader in the international market, with awards or contracts for
over 50 percent of the prison beds which have been privatized in countries outside of
the United States. The company now has contracts/awards to manage 47 facilities in
North America, Europe, Africa and Australia with a total of 31,957 beds; and additional
contracts for prisoner transportation, health care services and maintenance of secure
facilities.
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. The company is a global leader in providing innovative
healthcare and rehabilitative programs.
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 10K, Form 10Q and Form 8K reports.
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