Delta Consultants: $7.1 MM environmental risk transfer contrac
ST. PAUL, Minn February 13, 2009 – Delta Consultants, Inc., an Oranjewoud N.V. company (NYSE Euronext: ORANW), announced today that it finalized a $7.1 million USD environmental risk transfer contract for a former oil depot in Franklinville, New Jersey, USA.
Under the terms of the fixed-price contract, Delta Consultants will provide a comprehensive risk transfer solution for pre-existing known and unknown liabilities, including the remediation of existing environmental liabilities resulted from releases from above and below ground oil storage tanks.
“The client started the investigation in 1991,” said Paul Durkee, Senior Consultant for Delta Consultants. “In 2006, Delta offered a risk transfer solution to the parties responsible for the remediation of the site. Following our extensive due diligence process and use of Crystal Ball® forecasting model, Delta provided a financial and technical solution to the parties. In December 2008, with our comprehensive solution, all stakeholders finally reached agreement after nearly two decades and a contract was signed,” said Durkee.
Delta has offered structured risk transfer and other liability management services for oil and gas, manufacturing, services, and financial industries providing solutions for divested assets, as well as solutions integrated with continuing operations. “The combination of our thorough investigation using innovative technologies, our solid experience in designing and implementing effective risk transfer solutions, and our proven reputation with the insurance industry provided the assurance to reverse this previously deadlocked situation,” remarked Durkee.
The services will be executed under a performance-based contract identifying full remediation and regulatory closure as the endpoint. “Providing the right combination of environmental and business solutions has been a key strategy for Delta Consultants,” Durkee said. “We focus on building the right solution for our clients rather than selling traditionally offered services.”
Delta is a full-service, global consulting firm providing innovative and sustainable environmental, health and safety (EHS) solutions for multinational clients. Delta has 42 offices across the U.S. Delta is a subsidiary of Oranjewoud N.V. Delta, together with Oranjewoud, offers multinational EHS consulting capabilities with more than 3,300 employees. In addition Delta provides the diversity, strength, and global capacity of over 4,400 consultants in 145 offices on 6 continents through the Inogen Environmental Alliance. In 2008 Delta provided services to its clients in over 42 countries around the world.
Oranjewoud N.V. is a leading consultancy and engineering firm in The Netherlands, Belgium and France. The company offers high quality services in the broad areas of infrastructure, urban development, construction, nature and landscaping, the environment, safety and compliance, and sports and leisure facility construction. Oranjewoud provides services for the entire project chain: from the planning stage, to advice, design and supervision to contracting, management and operation. Oranjewoud N.V. is listed on the Euronext market in Amsterdam, The Netherlands, and Centric B.V. has an 89.89% position in the company.
Forward Looking Statements
This release contains “forward-looking statements”. All statements, other than statements of fact, which address activities, events or developments that we, or our management intend, expect, project, believe or anticipate will or may occur in the future, are forward-looking statements. Forward-looking statements are based on management’s assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisioned by our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term.