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TURNER STEINER INTERNATIONAL SECURES $80 MILLION CONTRACT FOR OFFICE BUILDING PROJECT IN SRI LANKA

 TURNER STEINER INTERNATIONAL SECURES $80 MILLION CONTRACT
 FOR OFFICE BUILDING PROJECT IN SRI LANKA
 NEW YORK, Nov. 12 /PRNewswire/ -- Turner Steiner International ("TSI") has secured an $80 million construction contract for an office building project in Columbo, Sri Lanka, according to an announcement made today by the Turner Corporation (AMEX: TUR). TSI, a company formed earlier this year, is owned equally by the Turner Corporation and Karl Steiner Holding Corporation of Zurich, Switzerland.
 Preconstruction and construction services have already commenced on the project, which consists of twin 38-story office buildings. The concrete-frame structures were designed by Anthony Ng, a Hong Kong-based architect. Completion of the project, owned by Overseas Realty Development Company, is anticipated in early 1995.
 "We are very excited about this job," commented Robert W. Nilsson, TSI's managing director. "Southeast Asia is one of the regions we have targeted for TSI and we see Sri Lanka providing a link between this area, the Indian subcontinent and the Middle East."
 TSI was formed earlier this year to allow the parent companies to better serve their respective clients and, by drawing on the resources of both companies, to better meet the predicted growth in international construction opportunities.
 Karl Steiner Holding Corporation, the largest builder in Switzerland, is an exclusively family-owned company headquartered in Zurich, with subsidiaries in France, Germany, Italy and Austria. During 1991, the Steiner group realized total construction turnover of SF950 (US$652.5 million).
 The Turner Corporation, through Turner Construction Company and other construction subsidiaries, is the nation's leading general builder of hospital and healthcare, institutional, industrial, commercial, retail, government building and multi-unit housing projects. Operating through more than 35 offices, Turner has construction projects underway throughout the United States and abroad. During 1991, the Turner Corporation completed $2.7 billion of construction.


er Steiner International ST: New York IN: CST SU: CON

SH-GK -- NY060 -- 0239 11/12/92 14:15 EST
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Publication:PR Newswire
Date:Nov 12, 1992
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