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LFR Secures Former Fort Ord Army Base MEC Removal Contract.

EMERYVILLE, Calif. -- LFR Inc. (LFR) announced today that it has executed a Remediation Services Agreement valued at $90,000,000 with the Fort Ord Reuse Authority (FORA) for the removal of residual munitions and explosives of concern (MEC) at the former Army Base in Monterey, CA. This groundbreaking program constitutes the country's first Early Transfer (ET)/Environmental Services Cooperative Agreement (ESCA) on a National Priorities List (NPL) site. As such, detailed coordination with both state and federal regulators has been and will continue to be a key program element. Under the existing Economic Development Conveyance agreement between the Army and FORA, approximately 3,500 acres of MEC impacted land is slated for redevelopment and reuse over the next 10 to 15 years. The MEC Hazard Removal Program will address environmental concerns and gain regulatory site closure. The LFR Project Team consists of LFR as prime contractor and team partners Weston Solutions, Inc. of West Chester, PA., and Westcliffe Engineers, Inc. of Denver, CO.

This program resulted from an 18-month negotiation between the project stakeholders, including the LFR Project Team, FORA, U.S. Army, U.S. EPA and California's Department of Toxic Substances Control (DTSC). The work is being done under an innovative contracting structure which includes the use of a finite risk insurance product provided by AIG Insurance. "This program is uniquely structured to address a variety of stakeholder interests and is probably the first of its kind in the country to use this contracting mechanism for the cleanup of MEC," says Frank Lorincz, CEO of LFR. "It was a very complicated deal that required innovative and strategic thinking. In the end, negotiations called for an incredible amount of patience and commitment by all stakeholders to not walk away from the table and close the deal," says Mr. Lorincz.

The project will take about 7 years to complete, shaving approximately fifty percent off the Army's estimated cleanup schedule. The work will be managed from the LFR Project Team's local office. "The cooperative partnership between LFR and Weston was critical to facilitate and close this transaction and can serve as a model for other environmentally impacted sites for the Department of Defense around the country," says Mr. Lorincz.

LFR is an environmental management and consulting engineering firm with more than 400 professionals in 30 offices throughout the United States. LFR has a reputation for excellence and a commitment to providing clients with innovative solutions for a range of diverse environmental challenges. LFR's expertise includes turnkey environmental remediation, site civil engineering, geotechnical engineering, site characterization, industrial hygiene, landfill services, litigation support, ecological restoration, risk assessment, and strategies for the repositioning of impaired real estate, including federal lands and BRAC sites.

For additional information visit our web site at www.lfr.com or contact:
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Publication:Business Wire
Date:Apr 12, 2007
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