ICF International (ticker: ICFI, exchange: NASDAQ Global Market (.O))
News Release -
ICF International Acquires Energy and Environmental Analysis, Inc.
Acquisition Enhances Energy, Environmental, and Transportation
FAIRFAX, Va.--(BUSINESS WIRE)--Jan. 10, 2007--ICF International
(Nasdaq:ICFI) announced today that it has acquired Energy and
Environmental Analysis, Inc. (EEA), an Arlington, Virginia, 27-person
consulting firm that specializes in energy market analyses, modeling,
transportation and energy technology, and environmental advisory
services. In the energy field, EEA is nationally known for its
analysis of natural gas supply, transportation and market issues;
analysis of automotive and transportation technology; analysis of
environmental regulations and policy; and distributed
generation/combined heat and power (CHP) markets and technologies. EEA
also provides strategic planning and regulatory support to all
segments of the natural gas industry.
"The combination of the modeling frameworks of ICF and EEA in the
electricity and gas sectors respectively will create a unique
analytical platform for integrated energy analyses. This is
particularly important with the increased use of natural gas and LNG
as fuels to generate electric power. In addition, this framework will
allow sophisticated analyses of the impacts of evolving greenhouse gas
regulations at the state, provincial, and federal levels in North
America," said Sudhakar Kesavan, chief executive officer of ICF. "We
are also pleased that EEA's significant expertise in automotive
emissions and fuel efficiency technologies will expand the breadth of
knowledge and experience in our transportation practice."
Founded in 1974, EEA has exhibited leadership and innovation in
analyzing energy and environmental issues for a wide range of
industry, government, and NGO clients. Like ICF, EEA also brings
strong analytics and proprietary models to its engagements.
"ICF's national and international geographic presence will provide
wider outlets for EEA's well established products and services,
providing new growth opportunities for both companies," said Joel
Bluestein, president of EEA. "In addition, the combined expertise and
analytical tools of the two firms will facilitate the development of
new products and services to meet the evolving needs of our existing
and future clients."
Joel Bluestein and the other current EEA directors will continue
to manage the EEA business within ICF.
ICF International (Nasdaq:ICFI) partners with government and
commercial clients to deliver consulting services and technology
solutions in the energy, environment, transportation, social programs,
defense, and homeland security markets. The firm combines passion for
its work with industry expertise and innovative analytics to produce
compelling results throughout the entire program life cycle, from
analysis and design through implementation and improvement. Since
1969, ICF has been serving government at all levels, major
corporations, and multilateral institutions. More than 1,800 employees
serve these clients worldwide. ICF's Web site is http://www.icfi.com.
This document may contain "forward-looking statements"--that is,
statements related to future--not past--events, plans, and prospects.
In this context, forward-looking statements may address matters such
as our expected future business and financial performance, and often
contain words such as "guidance," "expects," "anticipates," "intends,"
"plans," "believes," "seeks," "should," or "will." Forward-looking
statements by their nature address matters that are, to different
degrees, uncertain. For ICF, particular uncertainties that could
adversely or positively affect the Company's future results include:
risks related to the government contracting industry, including
possible changes in government spending priorities; risks related to
the Company's business, including its dependence on contracts with
U.S. Federal Government agencies and departments and continued good
relations, and being successful in competitive bidding, with those
customers; performance by ICF and its subcontractors under a major
contract with the State of Louisiana, Office of Community Development;
uncertainties as to whether revenues corresponding to the Company's
contract backlog will actually be received; strategic actions,
including the ability to make acquisitions and the performance and
future integration of acquired businesses; risk associated with
operations outside the United States; and other risks and
uncertainties disclosed in the Company's filings with the Securities
and Exchange Commission. These uncertainties may cause ICF's actual
future results to be materially different than those expressed in the
Company's forward-looking statements. ICF does not undertake to update
its forward-looking statements.
CONTACT: ICF International
Stacey Hohenberg, 703-218-2504
SOURCE: ICF International