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4-Traders Homepage  >  Equities  >  Nyse  >  ABM Industries, Inc.    ABM

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ABM IND : Ampco Awarded Parking Management Contract for Lambert-St. Louis International Airport

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09/19/2011 | 10:05pm CET

Ampco System Parking has been awarded a multi-year contract to manage parking operations at Missouri's Lambert-St. Louis International Airport (STL). Ampco System Parking is a subsidiary of ABM Industries Incorporated (NYSE:ABM), a leading provider of integrated facility services.

Ranked as the 30th busiest airport in the U.S. by Airports Council International North America, Lambert-St. Louis International Airport served more than 12 million passengers in 2010.

Under the terms of the multi-million dollar contract, which began September 1, Ampco will operate and oversee 8,800 parking spaces across STL's two parking garages and four surface parking lots. Additionally, Ampco will manage five separate shuttle routes with a fleet of 37 shuttles to transport airport customers to and from remote parking facilities. Approximately 230 Ampco employees will be engaged in providing parking services at the airport.

In addition to the contract with Lambert-St. Louis International Airport, Ampco provides parking services at many other key airports around the country, including: Tampa, Orlando, Austin, Colorado Springs, Omaha, LaGuardia, JFK, Newark, Minneapolis, Wichita and Long Beach.

"We are delighted to partner with one of the country's busiest and most respected airports," said Mark Muglich, president, Ampco System Parking. "We will leverage our extensive experience serving multiple airports across the country as a foundation for providing an outstanding parking experience for Lambert-St Louis' millions of customers each year. We look forward to a long and productive partnership."

Ampco System Parking manages nearly 2,000 office, airport, hotel, hospital, retail, education, entertainment and other multi-use parking operations across the U.S. Among other services, Ampco provides: parking management; shuttle transportation services; valet parking; on-and-off-street meter collections and enforcement; rate analysis and recommendations; parking utilization analysis; and consulting on pre-construction design, equipment procurement/installation and layout of parking facilities. For more information about Ampco System Parking, please visit www.abm.com/Services/parking/Pages/Parking-Management.aspx.

About ABM Industries Incorporated

ABM Industries Incorporated (NYSE:ABM), which operates through its subsidiaries (collectively "ABM"), is a leading provider of integrated facility services in the United States. With fiscal 2010 revenues of approximately $3.5 billion and nearly 100,000 employees, ABM provides commercial cleaning and maintenance, facility engineering, energy efficiency, parking and security services for thousands of commercial, industrial, government and retail clients across the United States and various international locations. ABM's business services include ABM Janitorial Services, ABM Facility Services, ABM Engineering Services, Ampco System Parking and ABM Security Services. For more information visit www.abm.com.

ABM Industries Incorporated
Media:
Tony Mitchell, 212-297-9828
tony.mitchell@abm.com
Chas Strong, 770-953-5072
chas.strong@abm.com
Investors & Analysts:
David Farwell, 212-297-9792
dfarwell@abm.com


© Business Wire 2011
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EBIT 2017 177 M
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EV / Sales 2017 0,47x
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Average target price 44,4 $
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