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The GEO Group, Inc. Message Board

  • mcprison mcprison Jul 13, 2001 10:58 PM Flag

    WHC gets another contract

    Universal News Service

    July 12, 2001

    WACKENHUT CORRECTIONS' UK COMPANY OPENS NEW PRISON FOR HM PRISON
    SERVICE AT MARCHINGTON, ENGLAND

    PR Newswire, London, July 12 This press release is transmitted on behalf of
    Wackenhut Corrections

    25-year contract -- in excess of USD900 million in revenues

    Opened on schedule & on budget

    First UK private therapeutic prison

    Palm Beach Gardens, Florida - Wackenhut Corrections Corporation (NYSE: WHC)
    today announced that its United Kingdom joint-venture company, Premier
    Custodial
    Group, Ltd., successfully opened HM Prison & Therapeutic Community Dovegate,
    an
    800-bed adult male prison and therapeutic community facility, located in
    Marchington, Staffordshire, England. The facility was designed, built, and
    financed by the Company in accordance with the specifications of HM Prison
    Services-Contracts & Competition Group. The 25-year contract is expected to
    generate in excess of USD900 million in revenues over the life of the
    contract,
    inclusive of debt service, operations and inflation.

    George C. Zoley, vice chairman and chief executive officer of WCC, said,
    "We
    are delighted to have opened another correctional facility, on time and within
    budget, with the Prison Services Office of the United Kingdom, indicating the
    long-term commitment to privatisation corrections in the UK The opening of HM
    Prison & Therapeutic Community Dovegate marks the Company's fifth long-term
    private finance initiative (PFI) prison facility in the UK"

    Zoley added, "The Dovegate prison complex, a state-of-the-art facility, is
    the UK's first therapeutic treatment facility to be developed in the last 30
    years and the only privately developed and managed program in the UK This
    long-term management contract will significantly add to the Company's
    financial
    stability."

    Dovegate is unique within the Prison Service of England and Wales. The
    complex is comprised of two distinct compounds: a minimum-security (Category
    B)
    training prison for 600 offenders and a maximum-security therapeutic community
    facility for 200 offenders. The Company will seek all applicable
    accreditations
    and certifications from the British Safety Council and other global
    accreditations agencies. The Company is set to achieve full capacity by early
    2002.

    Premier Custodial Group currently operates five custodial contracts for the
    Prison Services of England, Wales and Scotland: a Secure Training Centre for
    the
    Home Office; two prisoner escorting and court custody contracts for the
    Prisoner
    Escort and Custody Service of the Home Office and two areas for the electronic
    monitoring of offenders in England and Wales.

 
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