LAKE BUENA VISTA, Fla.--(BUSINESS WIRE)--Oct. 24, 2001--Meridian Project Systems (MPS), a leading software and e-business solutions provider for the $3.4 trillion construction industry, announced today it closed a strategic investment and sales agreement with Germany-based HOCHTIEF Aktiengesellschaft and Dallas-based The Turner Corporation. HOCHTIEF ranks as the top international contractor and fifth largest overall contractor according to ENR magazine, and Turner is the leading general builder in the United States.
HOCHTIEF and Turner will implement MPS' product suite -- Prolog Manager, ProjectTalk and their associated applications -- as their project management tool of choice. Prolog Manager -- and its web-based version, ProjectTalk -- is a project management system that manages numerous functions over the life of a project. These include collaboration, purchasing management, contract management, document management, field management, and cost control functions.
MPS will open a European office in Germany, the world's third largest construction market after the U.S. and Japan. This new office will serve as the company's headquarters for all European business and will operate in partnership with HOCHTIEF. MPS also plans to enter new global markets through HOCHTIEF's worldwide network that includes subsidiaries and associated companies in North and South America, Western, Central and Eastern Europe, India, Australia, the Asia-Pacific region and South Africa.
MPS continues to be majority controlled by cofounders John Bodrozic and David Towert.
HOCHTIEF and Turner also signed a separate sales agreement to establish the MPS suite of applications as their corporate global standard. Turner has already been utilizing MPS' Prolog software and ProjectTalk for several years. After a pilot phase, the systems will also be used on a large scale at HOCHTIEF in Germany and other countries in 2002.
According to Thomas C. Leppert, chairman and chief executive officer, The Turner Corporation: "The new relationship has many advantages for HOCHTIEF and Turner, not the least of which is standardization of our project management software with a functionally superior product that we will now have some input in further developing. It also represents a more aggressive strategy in planning for our systems needs in the future."
This relationship signifies a great deal to Meridian Project Systems. "We are thrilled to have HOCHTIEF and Turner as our strategic partners," said MPS chief executive officer, David Towert. "We have always been a customer-driven company and to have a global leader such as HOCHTIEF assisting with our expansion helps to ensure our success as we expand to new markets. These agreements help accomplish MPS' long-term goals of growth and global expansion while remaining firmly focused on customers and their requirements, feedback and satisfaction."
MPS president John Bodrozic believes that HOCHTIEF and Turner fit the bill not only because of Turner's long history with MPS, but also because of its extraordinary relationships with owners, architects, engineers and subcontractors worldwide. "Our ultimate goal is to facilitate collaboration between all project participants with our applications which reduce the costs and time of projects, while improving their quality," he says.
With a work-done volume of over EUR 13 billion in 2000, HOCHTIEF is the largest German construction company and internationally is in the industry's top tier. The company is a partner for complete project management from development, design and planning, to financing and construction and on to operation. HOCHTIEF has developed a closely tied multinational net of subsidiaries and associated companies and today is represented in all major markets. 37,000 people work for the company world-wide. HOCHTIEF now generates three-quarters of its sales revenues outside Germany. For more information, visit HOCHTIEF's website at www.hochtief.com.
The Turner Corporation, through Turner Construction Company and other construction subsidiaries, is the leading general builder in the U.S., ranking first or second in major segments of the building construction field. During 2000, The Turner Corporation, based in Dallas, Texas, completed nearly $5.8 billion of construction, and anticipates volume of over $6 billion for 2001. Turner is the only builder offering clients a nationwide network, with 41 offices across the country. Founded in 1902, Turner was acquired in 1999 by HOCHTIEF AG, one of the world's leading international construction companies. For more information, visit Turner's website at www.turnerconstruction.com.
About Meridian Project Systems:
Meridian Project Systems is a software and application service provider for the architectural, engineering and construction industry. MPS debuted on Inc magazine's INC 500 as the 56th fastest growing company in the United States in 2000, and has appeared on the prestigious list two years in a row. MPS' Internet solution, ProjectTalk.com, is the industry's most comprehensive online collaboration and management tool. ProjectTalk is powered by Prolog, MPS' commercially packaged software. Since 1993, MPS has served the commercial building industry and has more than 50,000 users. Its products are used by more than half of the top contractors in the United States, as ranked by ENR magazine. MPS is a privately held company headquartered in Folsom, Calif., with a research and development center in Vancouver, BC. Visit www.mps.com for more information.
Meridian Project Systems Bernadette Naval, 916/294-2066 Email Contact or HOCHTIEF Aktiengesellschaft Stephanie Reuter, +49(0) 201-8242482 Email Contact or Turner Construction Company Terry M. Kuflik, 212/229-6379 Email Contact