CCA TO MANAGE CITRUS COUNTY, FLA. JAILNASHVILLE, Tenn., Sept. 7 /PRNewswire/ -- Corrections Corporation of America Corrections Corporation of America (NYSE: CXW) (CCA) is a company that manages public prisons and other facilities, and has concessions for many others. The company had annual revenues in 2004 of $1.15 billion USD. (NYSE NYSE
See: New York Stock Exchange : CXC CXC Chandra X-Ray Center
CXC Caribbean Examinations Council
CXC Courage Crew ) announced today that it has reached agreement with Citrus County, Fla. to operate 300 adult male and female jail beds in an existing county-owned facility near Inverness.
The contract carries an initial three-year term and is expected to produce over $4 million in annual revenues for CCA. The company will assume management on Oct. 1.
"We are delighted to bring to Citrus County the same quality and cost-effective management that we have brought to other county jails in Florida," said CCA Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Doctor R. Crants. "The commission's diligent examination of CCA's proposal has concluded that the county will save over $1 million each year of our contract. Our expectations are high for a long and successful relationship with Citrus County."
CCA manages prisons and other correctional institutions for governmental agencies, including 533 jail beds for Bay County, Fla., 302 jail beds for Hernando County, Fla., and 750 prison beds for the state of Florida. The company is the industry leader in private sector corrections with a total of 25,705 beds in 44 facilities under contract in 11 U.S. states, the Commonwealth of Puerto Rico, Australia and the United Kingdom.
CCA's full range of services includes finance, design, construction and management of new or existing facilities, as well as long-distance inmate extradition.
/CONTACT: Peggy Wilson Lawrence, Corrections Corporation of America, 615-292-3100/
CO: Corrections Corporation of America ST: Tennessee IN: SU:
JB -- CH001 -- 0628 09/07/95 08:53 EDT