Tutor Perini Announces World Headquarters Move to Los Angeles

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC), a leading civil and building construction company, today formally announced that it has moved its world headquarters to Los Angeles at a celebration attended by Los Angeles Mayor Antonio Villaraigosa and leaders from business groups, union labor groups, and community organizations.

Following the merger between Tutor-Saliba Corporation and Massachusetts-based Perini Corporation, Tutor Perini’s Chairman and CEO Ronald N. Tutor made the decision to move the world headquarters to the San Fernando Valley of Los Angeles. The combined company, which generated over $5.6 billion in revenues in 2008, has relocated from the Boston area, where Perini had been headquartered for more than a century.

“I believe in Los Angeles,” said Tutor, a Los Angeles native and son of Armenian immigrants who built the company from a small local builder into one of the world’s largest construction companies. “I’m proud of the contributions we’ve made to the Los Angeles economy and I’m looking forward to bringing more jobs and infrastructure improvements to my hometown.”

Tutor added: “I want to thank the people of Los Angeles, and particularly Mayor Villaraigosa for his focus on economic development and his personal role in encouraging Tutor Perini to make Los Angeles its home.”

“This is a great day for jobs in Los Angeles,” said Mayor Villaraigosa. “Tutor Perini is responsible for many of our city’s most significant and successful public works projects, from the LEED Gold certified Police Headquarters to the runway expansion at Los Angeles International Airport,” added the Mayor. “Thank you Ron Tutor for believing in Los Angeles.”

Recognizing the important benefits of Tutor Perini’s decision, Mayor Villaraigosa presented Mr. Tutor with a commendation praising his leadership and thanking Tutor Perini for choosing Los Angeles.

Tutor Perini’s decision could lead to thousands of jobs for LA and California in the coming years. At any one time, as many as 3,000 salaried staff and 25,000 skilled craftsmen work on Tutor Perini projects. The company recently completed the $234 million Los Angeles Police headquarters building ahead of schedule and under budget.

Other critical projects built in California by Tutor Perini include UCLA Westwood Hospital ($542 million), Los Angeles International Airport runway expansion ($242 million), San Francisco International Airport reconstruction program ($1.1 billion), Alameda Corridor ($783 million), BART subway extension ($710 million) and the Richmond/San Rafael Bridge retrofit ($762 million). In addition, Tutor Perini projects in Las Vegas include the Wynn Encore ($1.4 billion), Planet Hollywood Towers ($530 million), Cosmopolitan Resort ($2.3 billion), McCarran International Airport Terminal 3 ($1.2 billion) and the largest ever private construction contract – the $6 billion MGM Mirage CityCenter project.

About Tutor Perini Corporation (NYSE: TPC)

Tutor Perini Corporation is a leading civil and building construction company offering diversified general contracting and design/build services to private clients and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large complex projects on time and within budget while adhering to strict quality control measures.

We offer general contracting, pre-construction planning and comprehensive project management services, including the planning and scheduling of the manpower, equipment, materials and subcontractors required for a project. We also offer self-performed construction services including excavation, concrete forming and placement, steel erection, electrical and mechanical services, plumbing and HVAC. We are known for our major complex building project commitments as well as our capacity to perform large and complex transportation and heavy civil construction for government agencies and private clients throughout the world.