Tutor Perini gets $500M Homeland Security contract

Tutor Perini gets Homeland Security contract valued at $500M for Coast Guard facility work

• On 5:23 pm EDT, Tuesday September 22, 2009

SYLMAR, Calif. (AP) -- Tutor Perini Corp. said Tuesday it received a Homeland Security Department contract valued at up to $500 million that allows it to bid for work at U.S. Coast Guard facilities.

The construction company said the contract is valid for one base year with six option years and also may be used to support construction for other Homeland Security agencies, such as the Federal Emergency Management Agency and the Federal Law Enforcement Training Center.

Tutor Perini said it was the first national Multiple Award Construction Contract issued by the Coast Guard.

Shares of the company declined 5 cents to $20.81 in after-hours trading when the contract was announced. In the regular session, the stock rose 53 cents, or 2.6 percent, to close at $20.85.