LOWELL, MA--(Marketwire - Jan 22, 2013) - TRC Companies, Inc. (
"The air testing business remains a core element in TRC's offerings and has been since our founding more than four decades ago," said TRC Chairman and Chief Executive Officer Chris Vincze. "The air emissions testing market is estimated at $500 million annually. This acquisition furthers our strategy of building strength in the most promising areas of our Energy and Environmental businesses."
"With approximately 55 employees, GE's Air Emissions Testing business will bring significant technical expertise to TRC," said TRC's National Air Measurements Practice Leader Jeffrey Burdette. "Equally as important, this transaction substantially expands our footprint in the Midwest and Southeast. GE's Air Emissions Testing business also brings a number of key client accounts to TRC, including GE Power & Water."
Bruce Randall, GE's Air Emissions Testing Product Leader who is part of the team joining TRC, said, "We are enthusiastic about joining TRC and look forward to offering superior service to our clients through our combined organizations."
A pioneer in groundbreaking scientific and engineering developments since the 1960s, TRC is a national engineering, consulting and construction management firm that provides integrated services to the energy, environmental and infrastructure markets. TRC serves a broad range of clients in government and industry, implementing complex projects from initial concept to delivery and operation. TRC delivers results that enable clients to achieve success in a complex and changing world. For more information and updates from the Company, visit TRC's website at www.TRCsolutions.com and follow TRC on Twitter at @TRC_Companies and on LinkedIn.
Certain statements in this press release may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You can identify these statements by forward-looking words such as "may," "expects," "plans," "anticipates," "believes," "estimates," or other words of similar import. You should consider statements that contain these words carefully because they discuss TRC's future expectations, contain projections of the Company's future results of operations or of its financial condition, or state other "forward-looking" information. TRC believes that it is important to communicate its future expectations to its investors. However, there may be events in the future that the Company is not able to accurately predict or control and that may cause its actual results to differ materially from the expectations described in its forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, and actual results may differ materially from those discussed as a result of various factors, including, but not limited to, the uncertainty of TRC's operational and growth strategies; circumstances which could create large cash outflows, such as contract losses, litigation, uncollectible receivables and income tax assessments; regulatory uncertainty; the availability of funding for government projects; the level of demand for TRC's services; product acceptance; industry-wide competitive factors; the ability to continue to attract and retain highly skilled and qualified personnel; the availability and adequacy of insurance; and general political or economic conditions. Furthermore, market trends are subject to changes, which could adversely affect future results. See the risk factors and additional discussion in TRC's Annual Report on Form 10-K for the fiscal year ended June 30, 2012, Quarterly Reports on Form 10-Q, and other factors detailed from time to time in the Company's other filings with the Securities and Exchange Commission.