Parsons Supporting the Future of Seattle Rail
CENTREVILLE, VA (July 11, 2019) – Parsons (NYSE:PSN) is pleased to announce it has been selected by Sound Transit to serve as lead designer for the Federal Way Link Extension, a $1.3 billion design-build project in Seattle, WA. Parsons will work as part of a team led by Kiewit. The Federal Way Link Extension will extend Sound Transit’s existing Link Light Rail system from the Angle Lake Station in the city of SeaTac to a new terminus in the city of Federal Way. The contract includes 7.8 miles of dual-track, at-grade, and elevated light rail transit including three LRT stations, rail systems, and associated ancillary facilities. Under a lump sum contract, Parsons will provide final design for the project, as well as engineering services during construction.
“Our proposal incorporated alternative technical concepts that ease schedule constraints, reduce cost, and drive out risk,” said Mark Fialkowski, Mobility Solutions Market Leader. “We also optimized the designs of all three stations on the route, including the existing infrastructure at Federal Way Transit Center, blending Star Lake Station into its natural surroundings, and introducing an inviting plaza area at Kent-Des Moines Station — all of which will encourage community use and future development.”
Parsons has worked on every major transit system in North America and many of the most renowned systems overseas. The corporation delivers world-class rail transit systems for vibrant, connected communities.
Parsons is a leading provider of technology-driven solutions focused on the defense, intelligence, and critical infrastructure markets. Celebrating 75 years of operations, Parsons provides technical design and engineering services and software products to address our customers’ challenges. Parsons has differentiated capabilities in cybersecurity, intelligence, missile defense, space, connected communities, physical infrastructure, and mobility solutions. Parsons’ combination of talented professionals and advanced technology enables a safer, smarter, and more interconnected world. For more about Parsons, visit parsons.com, and follow us on Facebook, Twitter, LinkedIn, Instagram, and YouTube.
Forward Looking Safe Harbor Statement
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Registration Statement on Form S-1 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this presentation that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so in connection with our ongoing requirements under federal securities laws.