Alnylam Completes Enrollment in ILLUMINATE-C Phase 3 Study of Lumasiran, an RNAi Therapeutic, for the Treatment of Advanced Primary Hyperoxaluria Type 1

Alnylam Completes Enrollment in ILLUMINATE-C Phase 3 Study of Lumasiran, an RNAi Therapeutic, for the Treatment of Advanced Primary Hyperoxaluria Type 1

– Topline Results Expected in Mid-2021 –

CAMBRIDGE, Mass.–(BUSINESS WIRE)–Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, announced today that it has achieved full patient enrollment in its ILLUMINATE-C Phase 3 study of lumasiran, an RNAi therapeutic targeting hydroxyacid oxidase 1 (HAO1) – the gene encoding glycolate oxidase (GO) – for the treatment of adults and children with advanced primary hyperoxaluria type 1 (PH1). Enrollment was completed with 21 PH1 patients across 13 sites in 10 countries.

“We are pleased to have completed enrollment in the ILLUMINATE-C Phase 3 study,” said Pritesh J. Gandhi, PharmD., Vice President and General Manager, Lumasiran Program at Alnylam. “This is an important milestone to help evaluate the efficacy and safety of lumasiran in patients with advanced PH1 including those experiencing systemic oxalosis and undergoing hemodialysis. We believe lumasiran has the potential to address the full spectrum of PH1 disease severity and look forward to reporting topline results from this important study in mid-2021.”

Lumasiran was recently approved by the FDA for the treatment of PH1 to lower urinary oxalate levels in pediatric and adult patients. It was also recently approved by the EMA for the treatment of PH1 in all age groups. Lumasiran is marketed in the U.S. and EU as OXLUMO™.

About ILLUMINATE-C Phase 3 Study

ILLUMINATE-C (NCT04152200) is a single arm, open-label, multinational Phase 3 study to evaluate the safety and efficacy of lumasiran in PH1 patients of all ages and advanced renal disease (eGFR ≤ 45 mL/min/1.73m2 or elevated serum creatinine for patients <12 months of age). Cohort A enrolled 6 patients with advanced PH1 who do not yet require dialysis and Cohort B enrolled 15 patients who are dialysis-dependent. The dosing regimen is based on weight with three monthly starting doses followed by ongoing monthly or quarterly doses. The primary endpoint of the study is the percent change in plasma oxalate from baseline to month 6. Key secondary endpoints are designed to evaluate additional measures of plasma oxalate and changes in urinary oxalate, and quality of life assessments. Renal function, frequency and mode of dialysis, frequency of renal stone events, and measures of systemic oxalosis will also be evaluated in the extension period of the study. For more information on ILLUMINATE-C please visit clinicaltrials.gov, email [email protected] or call 877-256-9526 in North America and +31 20 369 7861 in Europe.

About Lumasiran

Lumasiran is a subcutaneously administered RNAi therapeutic targeting hydroxyacid oxidase 1 (HAO1) in development for the treatment of primary hyperoxaluria type 1 (PH1). HAO1 encodes glycolate oxidase (GO). Thus, by silencing HAO1 and depleting the GO enzyme, lumasiran inhibits production of oxalate – the metabolite that directly contributes to the pathophysiology of PH1. Lumasiran utilizes Alnylam’s Enhanced Stabilization Chemistry (ESC)-GalNAc-conjugate technology, which enables subcutaneous dosing with increased potency and durability and a wide therapeutic index. Lumasiran has received regulatory approvals from the U.S. Food and Drug Administration (FDA) for the treatment of PH1 to lower urinary oxalate levels in pediatric and adult patients and from the European Medicines Agency (EMA) for the treatment of PH1 in all age groups under the brand name OXLUMO™.

IMPORTANT SAFETY INFORMATION

Adverse Reactions

The most common adverse reaction that occurred in patients treated with OXLUMO was injection site reaction (38%). Symptoms included erythema, pain, pruritus, and swelling.

Pregnancy and Lactation

No data are available on the use of OXLUMO in pregnant women. No data are available on the presence of OXLUMO in human milk or its effects on breastfed infants or milk production. Consider the developmental and health benefits of breastfeeding along with the mother’s clinical need for OXLUMO and any potential adverse effects on the breastfed child from OXLUMO or the underlying maternal condition.

For OXLUMO Prescribing Information in the U.S., please see link.

For OXLUMO Prescribing Information in the EU, please see link.

About Primary Hyperoxaluria Type 1 (PH1)

PH1 is an ultra-rare disease in which excessive oxalate production results in the deposition of calcium oxalate crystals in the kidneys and urinary tract and can lead to the formation of painful and recurrent kidney stones and nephrocalcinosis. Renal damage is caused by a combination of tubular toxicity from oxalate, calcium oxalate deposition in the kidneys, and urinary obstruction by calcium oxalate stones. Compromised kidney function exacerbates the disease as the excess oxalate can no longer be effectively excreted, resulting in subsequent accumulation and crystallization in bones, eyes, skin, and heart, leading to severe illness and death. Prior to the approval of OXLUMO in the U.S. and EU, treatment options were very limited and included frequent renal dialysis or combined organ transplantation of liver and kidney, a procedure with high morbidity that is limited due to organ availability, and for a small minority of patients, vitamin B6 therapy. Outside of the U.S. and EU there are no currently approved pharmaceutical therapies for PH1.

About RNAi

RNAi (RNA interference) is a natural cellular process of gene silencing that represents one of the most promising and rapidly advancing frontiers in biology and drug development today. Its discovery has been heralded as “a major scientific breakthrough that happens once every decade or so,” and was recognized with the award of the 2006 Nobel Prize for Physiology or Medicine. By harnessing the natural biological process of RNAi occurring in our cells, a new class of medicines, known as RNAi therapeutics, is now a reality. Small interfering RNA (siRNA), the molecules that mediate RNAi and comprise Alnylam’s RNAi therapeutic platform, function upstream of today’s medicines by potently silencing messenger RNA (mRNA) – the genetic precursors – that encode for disease-causing or disease pathway proteins, thus preventing them from being made. This is a revolutionary approach with the potential to transform the care of patients with genetic and other diseases.

About Alnylam Pharmaceuticals

Alnylam (Nasdaq: ALNY) is leading the translation of RNA interference (RNAi) into a whole new class of innovative medicines with the potential to transform the lives of people afflicted with rare genetic, cardio-metabolic, hepatic infectious, and central nervous system (CNS)/ocular diseases. Based on Nobel Prize-winning science, RNAi therapeutics represent a powerful, clinically validated approach for the treatment of a wide range of severe and debilitating diseases. Founded in 2002, Alnylam is delivering on a bold vision to turn scientific possibility into reality, with a robust RNAi therapeutics platform. Alnylam’s commercial RNAi therapeutic products are ONPATTRO® (patisiran), GIVLAARI® (givosiran), and OXLUMO™ (lumasiran). Alnylam has a deep pipeline of investigational medicines, including six product candidates that are in late-stage development. Alnylam is executing on its “Alnylam 2020” strategy of building a multi-product, commercial-stage biopharmaceutical company with a sustainable pipeline of RNAi-based medicines to address the needs of patients who have limited or inadequate treatment options. Alnylam is headquartered in Cambridge, MA. For more information about our people, science and pipeline, please visit www.alnylam.com and engage with us on Twitter at @Alnylam or on LinkedIn.

Alnylam Forward Looking Statements

Various statements in this release concerning Alnylam’s future expectations, plans and prospects, including, without limitation, Alnylam’s views with respect to the safety and efficacy of lumasiran in patients with advanced PH1, the potential for lumasiran to address the full spectrum of PH1 disease severity, Alnylam’s expectations with respect to the timing of topline results from ILLUMINATE-C, and expectations regarding the continued execution on its “Alnylam 2020” guidance for the advancement and commercialization of RNAi therapeutics, constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results and future plans may differ materially from those indicated by these forward-looking statements as a result of various important risks, uncertainties and other factors, including, without limitation: the direct or indirect impact of the COVID-19 global pandemic or any future pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays in diagnoses of rare diseases, initiation or continuation of treatment for diseases addressed by Alnylam products, or in patient enrollment in clinical trials, potential supply chain disruptions, and other potential impacts to Alnylam’s business, the effectiveness or timeliness of steps taken by Alnylam to mitigate the impact of the pandemic, and Alnylam’s ability to execute business continuity plans to address disruptions caused by the COVID-19 or any future pandemic; Alnylam’s ability to discover and develop novel drug candidates and delivery approaches and successfully demonstrate the efficacy and safety of its product candidates; the pre-clinical and clinical results for its product candidates, including in the ILLUMINATE-C study of lumasiran, which may not be replicated or continue to occur in other subjects or in additional studies or otherwise support further development of product candidates for a specified indication or at all; actions or advice of regulatory agencies, which may affect the design, initiation, timing, continuation and/or progress of clinical trials or result in the need for additional pre-clinical and/or clinical testing; delays, interruptions or failures in the manufacture and supply of its product candidates, including lumasiran, or its marketed products; obtaining, maintaining and protecting intellectual property; intellectual property matters including potential patent litigation relating to its platform, products or product candidates; obtaining regulatory approval for its product candidates, including lumasiran, and maintaining regulatory approval and obtaining pricing and reimbursement for its products, including ONPATTRO, GIVLAARI, and OXLUMO; progress in continuing to establish an ex-United States infrastructure; successfully launching, marketing and selling its approved products globally, including ONPATTRO, GIVLAARI, and OXLUMO, and achieving net product revenues for ONPATTRO within its revised expected range during 2020; Alnylam’s ability to successfully expand the indication for ONPATTRO or OXLUMO in the future; competition from others using technology similar to Alnylam’s and others developing products for similar uses; Alnylam’s ability to manage its growth and operating expenses within the ranges of guidance provided by Alnylam through the implementation of further discipline in operations to moderate spend and its ability to achieve a self-sustainable financial profile in the future without the need for future equity financing; Alnylam’s ability to establish and maintain strategic business alliances and new business initiatives; Alnylam’s dependence on third parties, including Regeneron, for development, manufacture and distribution of certain products, including eye and CNS products, and Vir for the development of ALN-COV and other potential RNAi therapeutics targeting SARS-CoV-2 and host factors for SARS-CoV-2; the outcome of litigation; the risk of government investigations; and unexpected expenditures; as well as those risks more fully discussed in the “Risk Factors” filed with Alnylam’s most recent Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) and in other filings that Alnylam makes with the SEC. In addition, any forward-looking statements represent Alnylam’s views only as of today and should not be relied upon as representing its views as of any subsequent date. Alnylam explicitly disclaims any obligation, except to the extent required by law, to update any forward-looking statements.

Alnylam Pharmaceuticals, Inc.

Christine Regan Lindenboom

(Investors and Media)

617-682-4340

Josh Brodsky

(Investors)

617-551-8276

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CDK Global and Integrated Rental Bring New Solution to IntelliDealer DMS

CDK Global and Integrated Rental Bring New Solution to IntelliDealer DMS

Rental application offers standardized, modern integration for heavy equipment dealers

HOFFMAN ESTATES, Ill.–(BUSINESS WIRE)–CDK Global, Inc. (Nasdaq; CDK) Heavy Equipment, a leading provider of integrated information technology solutions to the heavy equipment retail industry, today announced a partnership with Integrated Rental, a global leader in the heavy equipment rental software industry, that will bring an enhanced equipment rental integration to the CDK IntelliDealer dealer management software (DMS) platform early next year. The new integration will offer customers an additional option to the IntelliDealer rental application.

The collaboration aims to help heavy equipment dealers of all sizes simplify, standardize, and modernize their rental operations while driving profitable growth through data-driven insights. The integration will empower customers to:

  • Scale rental business across multiple locations
  • Centralize, manage and analyze rental data to improve fleet management
  • Standardize processes and systems to enable faster employee onboarding and increased operational efficiency across the yard, transport, counter and management

“Adding the Integrated Rental integration to the IntelliDealer DMS provides customers with more access to the technology and tools to enhance rental operations within their current workflow,” said Kris Denos, vice president, and region general manager, Recreation and Heavy Equipment, CDK Global. “We are excited about this new relationship and how it will help improve the standard of customer service in the heavy equipment industry.”

Founded in 2008, Integrated Rental is a global leader in rental software focused on providing innovation to the heavy equipment dealership industry.

“Over the last several years, we’ve seen the rental landscape shift with an increased focus on digitizing business processes and leveraging data to drive profitable growth,” said Alise Moncure, chief executive officer, Integrated Rental. “By teaming up with CDK, we can combine our knowledge of technology and the heavy equipment industry to provide rental business solutions that will deliver consistent value for our customers.”

CDK Heavy Equipment has 37 years of experience in adapting to the quickly changing needs of the heavy equipment industry. CDK Global continues to invest strategically to deliver solutions that will enable dealers to become more innovative, profitable, and self-sufficient. CDK Heavy Equipment solutions include IntelliDealer Financial Management, IntelliDealer Management Central, Intellidealer Product Support, MyDealer Access, ID MobileAccess, and Tethr It Now.

About CDK Global, Inc.

With approximately $2 billion in revenues, CDK Global (Nasdaq: CDK) is a leading global provider of integrated information technology solutions to the automotive retail and adjacent industries. Focused on enabling end-to-end automotive commerce, CDK Global provides solutions to dealers in more than 100 countries around the world, serving approximately 30,000 retail locations and most automotive manufacturers. CDK solutions automate and integrate all parts of the dealership and buying process, including the acquisition, sale, financing, insuring, parts supply, repair, and maintenance of vehicles. Visit cdkglobal.com.

Media Contacts:

Tony Macrito

847.485.4420

[email protected]

Roxanne Pipitone

847.485.4423

[email protected]

Investor Relations Contact:

Julie Schlueter

847.485.4643

[email protected]

KEYWORDS: Illinois United States North America

INDUSTRY KEYWORDS: Data Management Residential Building & Real Estate Commercial Building & Real Estate Automotive Technology Construction & Property Landscape Agriculture Natural Resources General Automotive Software

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Brother Announces Key Alliance with Getac to Deliver Integrated Bundled Printing & Labeling Solutions for Rugged Environments

Brother Announces Key Alliance with Getac to Deliver Integrated Bundled Printing & Labeling Solutions for Rugged Environments

Solution kits ensure fast, seamless hardware and printer integration and position users in rugged warehouse, supply chain, and government markets to leverage 5G

WESTMINSTER, Colo.–(BUSINESS WIRE)–Brother Mobile Solutions, Inc. (BMS), a premier provider of mobile, desktop and industrial printers and labeling tools today announced it has formed a strategic alliance with Getac, a key subsidiary of MiTAC-Synnex Business Group. The collaboration will enable the companies to bring to market a variety of fully integrated bundled solutions pairing Getac’s rugged tablets and laptops, including new 5G-supported devices with a variety of Brother mobile and industrial barcode printers. The solutions help support Getac’s expansion beyond military and government agencies and are ideally suited for industries including warehouse, distribution centers, retail, manufacturing, field service and logistics, as well as public safety.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201203005134/en/

Brother’s field-ready printer and accessory bundles will be paired with Getac’s devices including laptops and tablets. (Photo: Brother Mobile Solutions)

Brother’s field-ready printer and accessory bundles will be paired with Getac’s devices including laptops and tablets. (Photo: Brother Mobile Solutions)

As part of the alliance, Brother will provide field-ready printer and accessory bundles that include the popular Brother PocketJet full-page mobile printer, the ruggedized RuggedJet 4” thermal receipt and label printer, and Brother’s newly introduced high-speed industrial barcode label printers. These enterprise-grade bundles will be paired with Getac’s devices including laptops and tablets. The solutions provide operations managers with a compelling range of end-to-end mobility packages, for mobile printing and barcode labeling of goods and products across enterprise and supply chain.

Solution Kits Designed with Seamless Integration to Deploy Advanced Technologies like 5G

The new bundled solution kits represent highly integrated technologies that seamlessly integrate with smart device technologies such as Android™ or Windows and can help enterprises further leverage emerging 5G infrastructure.

A snapshot of the bundled solution kits and applications:

  • Public Safety – Ideal for in-vehicle hand-mounted, with USB or BT connections. Also, hybrid solutions for in/out of vehicle with hand-carried or hand-mounted applications with USB or BT connections. Uses include accident reports, Amber Alerts, citations, summons and warrants.
  • Warehousing – For hand-carried, centrally charged printing and shipping for a variety of labels, with BT host connectivity. Uses include printing labels anywhere in the warehouse, DC or fulfillment center. Also, perfect for Warehousing Vehicles with mounted power direct (no battery), for printing of pallet or various other warehouse labels with BT or USB connections to host.
  • Transportation & Logistics-Route Accounting – In the truck hand-carried for customer printing of delivery transaction receipts, with BT or USB connectivity to host. Enables carrying on belt from the truck to the customer for printing of receipts and invoices.
  • Retail – Perfect for all types of retail receipt printing including mobile POS as well as in-aisle shelf labels or tags.
  • Industrial Manufacturing – Well suited for many industrial applications with a need for stationary, high-speed desktop label printing, with USB connectivity. Enables printing of a full range of shipping and identification labels.

Easy-to-Deploy Solutions Built with Advanced Technology that Delivers Efficiency

According to Ravi Panjwani, Vice President at Brother Mobile Solutions, “Auto ID and barcode labeling continue to provide clear benefits to enterprise organizations in the retail, supply chain and manufacturing industries, as well as all types of field organizations such as public safety and government. BMS’ alliance with Getac allows our companies to jointly deliver auto-ID and labeling solutions positioned to deliver efficiency and production benefits via connected smart devices and advanced printing and labeling.”

Mr. Panjwani continued, “There will even be kits that leverage 5G technologies – a winning technology combination which will enable faster, more reliable communication and data transfer to help businesses streamline processes, enhance safety and improve customer service.”

“The proliferation of connected technologies has dramatically increased the challenge for decision-makers across many enterprises and industries who are tasked with continually identifying and deploying the best combination of devices to meet their field, warehouse or industrial workforce’s need.” said Joe Martin, Director of Product Solutions Division at Getac. “Today, Getac offers a comprehensive customizable solution program called Getac Select®. Inspired and driven by our customer’s challenges, Getac creates innovative solutions employing a combination of rugged computing devices, software, accessories and professional services delivering specifically tailored solutions. Our collaboration with Brother Mobile Solutions will simplify the decision-making process for our customers, and more importantly, add a level of assurance that the computer and print solution will function reliably in the most demanding environments,” further notes Martin.

Backed by Premier Warranties and Support

Getac will sell uniquely configured Brother Mobile Solutions printer bundles within its existing line of distribution channels in North America. The solutions come complete with an upgraded 3-year limited warranty covering the full kit, with full support provided by Getac’s Solutions Group and Brother Mobile Solutions.

Brother can also make it easy for users to acquire the bundled solution kits for one low monthly fee, with the new HaaS Shift & Print Subscription Service*.

*Shift & Print Subscription Service is subject to credit approval.

About Brother Mobile Solutions

Brother Mobile Solutions, Inc., a wholly owned subsidiary of Brother International Corporation, provides innovative mobile and desktop printing and industrial labeling solutions to field workforces and mobile enterprises. Brother International Corporation and its subsidiaries employ over 1,100 people in the Americas. For more information about Brother Mobile Solutions and its products, call (800) 543-6144, or visit www.brothermobilesolutions.com.

About Getac

Getac Technology Corporation is a key subsidiary of MiTAC-Synnex Business Group (2019 annual revenue of US $ 40 billion – Listed on the Taiwan Stock Exchange (TSE: 3005)). Getac was established in 1989 as a joint venture with GE Aerospace to provide defense electronics. Today Getac’s business includes rugged laptops, rugged tablets, software, and mobile video solutions for military, police, firefighters, utilities, automotive, manufacturing, transport and logistics. For more information visit: www.getac.com

Brother Mobile Solutions

Mary Howard

[email protected]

303.464.6707

Jeff Ayers

(ALCHAR for Getac)

[email protected]

917.324.2385

KEYWORDS: Colorado United States North America

INDUSTRY KEYWORDS: Technology Discount/Variety Other Manufacturing Other Transport Trucking Packaging Air Transport Food/Beverage Logistics/Supply Chain Management Manufacturing Retail Networks Internet Mobile/Wireless Convenience Store Consumer Electronics

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Brother’s field-ready printer and accessory bundles will be paired with Getac’s devices including laptops and tablets. (Photo: Brother Mobile Solutions)

KB Home Announces the Grand Opening of Horizon Pointe, a New-Home Community in Converse, Texas; Priced From the $210,000s

KB Home Announces the Grand Opening of Horizon Pointe, a New-Home Community in Converse, Texas; Priced From the $210,000s

Homebuilder’s latest community in the San Antonio area offers personalized, new homes in a desirable location.

SAN ANTONIO–(BUSINESS WIRE)–
KB Home (NYSE: KBH) today announced the grand opening of Horizon Pointe, a new single-family home community in Converse. The community’s commuter-friendly location is close to major highways and minutes from area military facilities and medical centers. KB Home will host a model home tour on Instagram Live @kbhome_san_antonio, on Saturday, December 5 at 10 a.m. CST. During the live event, participants can view the two Horizon Pointe model homes, ask questions about the new community and learn how to schedule a VIP tour.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201203005030/en/

KB Home announces the grand opening of Horizon Pointe, a new-home community in Converse, Texas; priced from the 210,000s. (Photo: Business Wire)

KB Home announces the grand opening of Horizon Pointe, a new-home community in Converse, Texas; priced from the 210,000s. (Photo: Business Wire)

The homes at Horizon Pointe showcase popular design characteristics like gourmet kitchens overlooking expansive great rooms, master suites with walk-in closets, and large lofts. The community offers one- and two-story floor plans that feature up to six bedrooms and three-and-a-half baths, and range in size from approximately 1,500 to 2,900 square feet. Residents will enjoy the community’s proximity to Converse City Park, which features a playground, ball fields and walking paths, and being within walking distance of Masters Elementary School. Horizon Pointe’s community amenities include a pool and playground.

“Horizon Pointe is just minutes to Loop 1604 and Interstates 35 and 10, offering an easy commute to Randolph Air Force Base, Fort Sam Houston and San Antonio Military Medical Center,” said Rob Wasyliw, President of KB Home’s San Antonio division. “As with other KB Home communities, Horizon Pointe provides home shoppers the opportunity to purchase a new KB home that can be personalized to reflect their lifestyle and needs.”

KB Home stands out from other homebuilders as the company gives homebuyers exceptional choice and control. KB Home starts by offering a wide variety of homes at an affordable price. From there, the builder gives buyers the ability to personalize their homes from homesites and floor plans to design features. The KB Home team works hand in hand with homeowners every step of the way so they have a real partner in the process.

Every KB home is designed to be ENERGY STAR® certified thanks to the quality construction techniques and materials utilized that ultimately deliver significant savings on utility bills compared to used homes. Additionally, all new KB homes are designed to deliver an enhanced indoor environment and include high performance ventilation systems, low- or zero-VOC products and other features guided by the Environmental Protection Agency’s (EPA) Indoor airPLUS standards.

The Horizon Pointe sales office and model homes are open for private in-person tours by appointment, and walk-in visits are welcome. Homebuyers also have the flexibility to arrange a live video tour with a sales counselor. Pricing begins from the $210,000s.

For more information on KB Home, call 888-KB-HOMES or visit kbhome.com.

About KB Home

KB Home is one of the largest and most recognized homebuilders in the United States and has been building quality homes for over 60 years. Today, KB Home operates in 42 markets across eight states, serving a wide array of buyer groups. What sets us apart is how we give our customers the ability to personalize their homes from homesites and floor plans to cabinets and countertops, at a price that fits their budget. We are the first builder to make every home we build ENERGY STAR® certified. In fact, we go beyond the EPA requirements by ensuring every ENERGY STAR certified KB home has been tested and verified by a third-party inspector to meet the EPA’s strict certification standards, which help to lower the cost of ownership and to make our new homes healthier and more comfortable than new ones without certification. We also work with our customers every step of the way, building strong personal relationships so they have a real partner in the homebuying process, and the experience is as simple and easy as possible. Learn more about how we build homes built on relationships by visiting kbhome.com.

Cara Kane, KB Home

321-299-6844

[email protected]

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Residential Building & Real Estate Construction & Property Landscape Interior Design

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KB Home announces the grand opening of Horizon Pointe, a new-home community in Converse, Texas; priced from the 210,000s. (Photo: Business Wire)

30- and 60-day Delinquency Rates Improve In Q3 2020, As the Automotive Industry Continues to Rebound

30- and 60-day Delinquency Rates Improve In Q3 2020, As the Automotive Industry Continues to Rebound

Despite smaller percentage of financed vehicles, outstanding loan balances grew 2.8% year-over-year to more than $1.2 trillion

SCHAUMBURG, Ill.–(BUSINESS WIRE)–
Throughout the pandemic, the automotive industry has been one of the reference points in assessing the recovery, and according to findings from Experian’s Q3 2020 State of the Automotive Finance Market report, the automotive sector continues to show positive trends.

Prior to the pandemic, delinquency rates were considered a barometer of health for the automotive finance market, and this continues to be true today. According to the report, 30- and 60-day delinquency rates improved in Q3 2020, reaching 1.56% and 0.51%, respectively. Comparatively, a year ago, the 30-day delinquency rate was 2.25% and the 60-day delinquency rate was 0.75%.

“While the decline in 30- and 60-day delinquency rates is a positive trend for the industry, particularly with some of the accommodation programs coming to an end, we do need to consider the impact these programs have had on consumers,” said Melinda Zabritski, Experian’s senior director of automotive financial solution. “Some consumers likely leveraged financial assistance programs to manage through hardship, so it’s important for lenders to keep a close eye on how delinquency rates evolve over the coming quarters. Nonetheless, the improvement is a positive sign for the country’s economic recovery.”

Beyond influencing consumers’ ability to manage monthly payments, the pandemic also impacted sales volume. However, despite fewer vehicle sales, outstanding loan balances still grew 2.8% from a year ago, reaching $1.2 trillion. This also comes at a time where a smaller percentage of vehicles are being financed. The percentage of new vehicles with financing was 82.43% in Q3 2020 compared to 86.99% the previous year. Similarly, the percentage of used vehicles with financing was 33.71% in Q3 2020 compared with 39.79% over the same period. It is important to note, the drop in the percentage of vehicles with financing can also be attributed to an increase in cash transactions.

Prime consumers shift back to used vehicles

During the first few months of the pandemic, automakers offered new vehicle incentives to improve sales. As a result, we saw prime borrowers opt for new vehicles, reversing a trend we observed in previous quarters. With fewer incentives offered in Q3 2020, a higher percentage of prime borrowers shifted back to used. Prime and super prime borrowers made up 55.3% of used vehicles financed during the quarter, a new high for used vehicle lending.

The shift back to the used vehicle market is likely driven by continued affordability conversations. Both the average new and used vehicle loan amounts saw increases in Q3 2020. The average loan amount for a new vehicle increased more than $2,000 over the previous year, reaching $34,635, while the average loan amount for a used vehicle saw a $945 increase to $21,438 over the same period. The increases in new and used loan amounts could also be attributed to consumer preference, with consumers leaning toward larger, more expensive vehicles. Small SUVs were the most purchased vehicles, making up 26.01% of loans in Q3 2020, followed by mid-sized SUVs at 24.15%.

Despite the increases in average loan amounts, the increases in average monthly payment weren’t as sharp. In fact, the average new vehicle payment increased $11 year-over-year, reaching $563 in Q3 2020, and the average used vehicle payment increased $6 to $397, over the same period. While the average loan amount for new and used vehicles saw significant increases, the smaller uptick in average monthly payment is due to an increase in loan terms and lower interest rates. The average loan term for a new vehicle increased slightly to 69.68 months in Q3 2020, up from 68.98 months, while the average loan term for used vehicles increased from 64.49 months to 65.15 months. The average interest rate for a new vehicle loan saw sharp decrease from 5.38% in Q3 2019 to 4.22% in Q3 2020, while the average interest rate for a used vehicle dropped from 9.09% to 8.43% over the same period.

“With affordability still top of mind, particularly during the pandemic, lower interest rates have certainly helped consumers keep monthly payments at a manageable level,” Zabritski continued. “As the market evolves and financial situations shift, it’s important for lenders and dealers to stay close to the trends and make strategic decisions that help keep the industry moving forward and consumers in their vehicles.”

Additional findings for Q3 2020:

  • Deep subprime loans remained under 3% in Q3 2020, with overall subprime lending at a record low of 19.23%.
  • Average credit scores saw a sharp increase for new vehicles, jumping from 728 in Q3 2019 to 732 in Q3 2020. The average credit score for used vehicles also saw a one-point increase from 664 to 665 year-over-year.
  • New vehicle leasing continued decrease in Q3 2020, comprising 26.2% of new vehicle financing, compared to 30.27% in Q3 2019.
  • Captive lenders continued to increase market share, from 30.85% in Q3 2019 to 34.49% in Q3 2020. Buy-here-pay-here lenders saw a slight increase, from 4.32% to 4.69%, while all other lenders saw year-over-year decreases.

To view the entire Q3 2020State of the Automotive Finance Market report webinar, visit https://www.experian.com/automotive/automotive-webinars.html.

About Experian

Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organizations to prevent identity fraud and crime.

We have 17,800 people operating across 45 countries and every day we’re investing in new technologies, talented people and innovation to help all our clients maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

Learn more at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group.

Experian and the Experian marks used herein are trademarks or registered trademarks of Experian and its affiliates. Other product and company names mentioned herein are the property of their respective owners.

Jordan Takeyama

Experian Public Relations

1 714 830 7561

[email protected]

KEYWORDS: Illinois United States North America

INDUSTRY KEYWORDS: Other Consumer Technology Finance Automotive General Automotive Banking Professional Services Internet Consumer

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ExOne Announces Pioneering Binder Jet 3D Provider to Use Innovent+ Metal 3D Printer

ExOne Announces Pioneering Binder Jet 3D Provider to Use Innovent+ Metal 3D Printer

  • FreeFORM Technologies is led by a team of engineers experienced in metal injection molding, powder metallurgy, engineering software, and automation
  • New 3D contract manufacturer will specialize in metal binder jetting, starting with an Innovent+®
  • The world’s best-selling metal binder jet system, Innovent+ can 3D print more than 20 materials

NORTH HUNTINGDON, Pa.–(BUSINESS WIRE)–
The ExOne Company (Nasdaq: XONE), the global leader in industrial sand and metal 3D printers using binder jetting technology, today announced that FreeFORM Technologies, a new 3D printing contract manufacturer and engineering service bureau focused on metal binder jetting has accepted delivery of its first system, an Innovent+.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201203005145/en/

FreeFORM Technologies is a new contract manufacturer specializing in metal binder jet 3D printing. The company was founded this fall by a team of experienced engineers (left to right): Eric Wonderling, VP of Quality & Applications; Andy Reasinger, VP of Engineering; Chris Aiello, VP of Business Development; and Nate Higgins, President. (Photo: Business Wire)

FreeFORM Technologies is a new contract manufacturer specializing in metal binder jet 3D printing. The company was founded this fall by a team of experienced engineers (left to right): Eric Wonderling, VP of Quality & Applications; Andy Reasinger, VP of Engineering; Chris Aiello, VP of Business Development; and Nate Higgins, President. (Photo: Business Wire)

“ExOne is proud to partner with the innovative and experienced team at FreeFORM, who will help customers tap the incredible value offered by our high-speed binder jetting technology,” said John Hartner, ExOne’s CEO. “This team demonstrates how binder jetting is a perfect complement to metal injection molding (MIM) operations.”

Based in St Marys, Pennsylvania – known as the Powdered Metal Capital of the World – FreeFORM was founded this fall by a team of engineers experienced in MIM, powder metallurgy, engineering software, and automation.

“We believe metal binder jetting is a revolutionary technology that represents the next generation of metal production using metal powders,” said FreeFORM President Nate Higgins. “We’re excited to begin producing parts on our Innovent+ and to help customers tap the benefits of complex metal parts without the need for expensive tooling. Binder jetting can also affordably produce lower volumes of MIM-like parts and consolidated or lightweight parts that deliver more value. We’re committed to providing world-class engineering and manufacturing services around binder jetting.”

ExOne’s patented binder jet 3D printing process transforms powdered materials — metal, sand or ceramic — into highly dense and functional precision parts at high speeds. An industrial printhead selectively deposits a binder into a bed of powder particles creating a solid part one thin layer at a time, just like printing on sheets of paper. The technology is viewed as a desirable and sustainable production method, largely because of its high speed, low waste and cost, as well as material flexibility.

Launched in 2016, the Innovent family of 3D printers has become the world’s best-selling and most-researched metal binder jetting system, with machines installed worldwide at some of the world’s best-known universities and industrial brands. The Innovent+ is compact, easy to use, and affordable. Loaded with ExOne’s patented Triple Advanced Compaction Technology (ACT), the system delivers industry-leading quality and repeatability, with final dimensional tolerances routinely below 1% with tuning.

ExOne has qualified more than 20 metal, ceramic and composite materials for its patented binder jetting process. FreeFORM intends to focus primarily on metal part production, with stainless steels such as 17-4PH and 316L, as well as M2 Tool Steel. The new company also intends to qualify materials internally and for customer-specific applications.

About ExOne

ExOne is the pioneer and global leader in binder jet 3D printing technology. Since 1995, we’ve been on a mission to deliver powerful 3D printers that solve the toughest problems and enable world-changing innovations. Our 3D printing systems quickly transform powder materials — including metals, ceramics, composites and sand — into precision parts, metal casting molds and cores, and innovative tooling solutions. Industrial customers use our technology to save time and money, reduce waste, improve their manufacturing flexibility, and deliver designs and products that were once impossible. As home to the world’s leading team of binder jetting experts, ExOne also provides specialized 3D printing services, including on-demand production of mission-critical parts, as well as engineering and design consulting. Learn more about ExOne at www.exone.com or on Twitter at @ExOneCo. We invite you to join with us to #MakeMetalGreen™.

About FreeFORM

FreeFORM is a first-of-its-kind metal binder jet 3D printing contract manufacturer. Founded in 2020 by a group of engineers, FreeFORM aims to bring binder jet technology to the masses through technology adoption. FreeFORM’s co-founders bring a diverse outlook into metals manufacturing and are committed to providing world-class services to the customer while providing low cost of ownership and speed to market. Our vision is to be the benchmark for additive manufacturing. Learn more about FreeFORM at www.freeformtech.com

Media:

Sarah Webster

Chief Marketing Officer

724-516-2336

[email protected]

KEYWORDS: Pennsylvania United States North America

INDUSTRY KEYWORDS: Engineering Automotive Manufacturing Aerospace Manufacturing

MEDIA:

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FreeFORM Technologies is a new contract manufacturer specializing in metal binder jet 3D printing. The company was founded this fall by a team of experienced engineers (left to right): Eric Wonderling, VP of Quality & Applications; Andy Reasinger, VP of Engineering; Chris Aiello, VP of Business Development; and Nate Higgins, President. (Photo: Business Wire)

Telenav Announces Expiration of “Go-Shop” Period

Telenav Announces Expiration of “Go-Shop” Period

Transaction Expected to Close During First Calendar Quarter of 2021

SANTA CLARA, Calif.–(BUSINESS WIRE)–
Telenav, Inc. (NASDAQ: TNAV), a leading provider of connected-car and location-based services, today announced the expiration of the 30-day “go-shop” period under the terms of the previously announced definitive merger agreement, pursuant to which V99, Inc., a Delaware corporation led by HP Jin, Co-Founder, President, and Chief Executive Officer of Telenav, will acquire Telenav for $4.80 per share in an all cash transaction. The “go-shop” period expired at 11:59 p.m. PT on December 2, 2020.

During the “go-shop” period, Telenav’s Special Committee, with the assistance of B. Riley Securities, Inc. (“B. Riley Securities”), Telenav’s financial advisor, actively solicited alternative acquisition proposals from third parties that the Special Committee and B. Riley Securities believed might be interested in a possible alternative transaction. During the “go-shop” period, B. Riley Securities had substantive discussions with three parties that B. Riley Securities had contacted prior to the announcement of the definitive merger agreement, and B. Riley Securities contacted 39 third parties that it had not contacted prior to the announcement of the definitive merger agreement. The Special Committee did not receive any alternative acquisition proposals from any third party during the “go-shop” period.

Upon expiration of the “go-shop” period, Telenav became subject to customary “no-shop” restrictions under the merger agreement that limit its and its representatives’ ability to solicit alternative acquisition proposals from third parties, provided that the Special Committee may still consider alternative proposals in accordance with the “fiduciary out” provisions of the merger agreement.

The transaction is expected to close during the first calendar quarter of 2021, subject to customary closing conditions, including approval by Telenav stockholders, approval by Telenav stockholders holding a majority of the outstanding shares owned by stockholders other than Mr. Jin, Mr. Chen, Changbin Wang, and each of their affiliates and related parties, and receipt of regulatory approvals. Upon closing of the transaction, Telenav common stock will no longer be listed on any public market.

About Telenav, Inc.

Telenav is a leading provider of connected car and location-based services, focused on transforming life on the go for people – before, during, and after every drive. Leveraging our location platform, we enable our customers to deliver custom connected car and mobile experiences. To learn more about how Telenav’s location platform powers personalized navigation, mapping, big data intelligence, social driving, and location-based advertising, visit www.telenav.com.

“Telenav” and the “Telenav” logo are registered trademarks of Telenav, Inc. Unless otherwise noted, all other trademarks, service marks, and logos used in this press release are the trademarks, service marks or logos of their respective owners.

© 2020 Telenav, Inc. All Rights Reserved.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements represent Telenav’s expectations or beliefs concerning future events. Words such as “could,” “will,” “may,” “assume,” “forecast,” “strategy,” “guidance,” “outlook,” “target,” “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe” or “project” and similar expressions are used to identify forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release include Telenav’s expectations regarding V99’s agreement to acquire Telenav (the “Agreement”), the terms and conditions of the Agreement, and the timing of the closing of the proposed transaction. Forward-looking statements can be affected by assumptions used or known or unknown risks or uncertainties. Consequently, no forward-looking statements can be guaranteed and actual results may differ materially and adversely from those reflected in the forward-looking statements. Factors that could cause actual results to differ materially from those indicated in the forward-looking statements include, among others, the failure to obtain the approval of Telenav’s stockholders, including a majority of the outstanding shares of Telenav’s common stock owned by stockholders other than HP Jin, Samuel Chen and Changbin Wang, and each of their affiliates and other related parties, in connection with the proposed transaction; the failure to consummate or delay in consummating the proposed transaction for other reasons; the risk that a condition to closing of the proposed transaction may not be satisfied or that required financing for the proposed transaction may not be available or may be delayed; the risk that a regulatory approval that may be required for the proposed transaction is delayed, is not obtained, or is obtained subject to conditions that are not anticipated; the effect of the proposed transaction on Telenav’s business and operating results and impact on the trading price of shares of Telenav common stock; the diversion of management time on transaction-related issues. Any forward-looking statement made by Telenav in this press release is based only on information currently available to Telenav and speaks only as of the date on which it is made. Except as required by applicable law or regulation, Telenav does not assume any obligation to update any such forward-looking statements whether as the result of new developments or otherwise.

Additional Information and Where to Find It

This communication is being made in respect of the proposed transaction involving Telenav and V99. In connection with the proposed transaction, Telenav intends to file relevant materials with the Securities and Exchange Commission (the “SEC”), including a proxy statement on Schedule 14A. Promptly after filing its definitive proxy statement with the SEC, Telenav will mail the definitive proxy statement and a proxy card to each stockholder of Telenav entitled to vote at the special meeting relating to the proposed transaction. This communication is not a substitute for the proxy statement or any other document that Telenav may file with the SEC or send to its stockholders in connection with the proposed transaction. BEFORE MAKING ANY VOTING DECISION, STOCKHOLDERS OF TELENAV ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE PROPOSED TRANSACTION THAT TELENAV WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TELENAV AND THE PROPOSED TRANSACTION. The definitive proxy statement and other relevant materials in connection with the proposed transaction (when they become available), and any other documents filed by Telenav with the SEC, may be obtained free of charge at the SEC’s website (http://www.sec.gov) or at Telenav’s website (https://www.telenav.com/) or by contacting Telenav’s Investor Relations at [email protected].

Participants in the Solicitation

Telenav and its directors and executive officers, including HP Jin and Samuel Chen, may be deemed to be participants in the solicitation of proxies from Telenav’s stockholders with respect to the proposed transaction. Information about Telenav’s directors and executive officers and their ownership of Telenav’s common stock is set forth in Telenav’s Annual Report on Form 10-K for the fiscal year ended June 30, 2020, which was filed with the SEC on August 21, 2020, as amended on October 26, 2020. Additional information regarding the potential participants, and their direct or indirect interests in the proposed transaction, by security holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with SEC in connection with the proposed transaction.

TNAV-F

TNAV-C

Bishop IR

Mike Bishop

415-894-9633

[email protected]

OR

Joele Frank, Wilkinson Brimmer Katcher

Eric Brielmann / Rose Temple

212-355-4449

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Satellite Software Automotive Other Transport Technology Performance & Special Interest Transport Mobile/Wireless

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Biotheranostics appoints Mark D. Pegram, MD as Chief Medical Advisor of Breast Oncology

San Diego, CA, Dec. 03, 2020 (GLOBE NEWSWIRE) — Biotheranostics announces Mark D. Pegram, MD as Chief Medical Advisor of Breast Oncology in support of Breast Cancer Index, the only commercially available genomic assay to help inform the decision of extended endocrine therapy based on prediction of benefit for HR+, early-stage breast cancer patients. Dr. Pegram is a key leader in breast oncology with 27 years of experience managing patients and leading research initiatives to further advance the management of breast oncology, bringing tremendous expertise to Biotheranostics and clinical vision for its Breast Cancer Index assay.

Dr. Mark D. Pegram is the Suzy Yuan-Huey Hung Endowed Professor of Medical Oncology at the Stanford University School of Medicine. He currently serves as the Associate Director of Clinical Research at the Stanford Comprehensive Cancer Institute (SCCI). He also serves as the Associate Dean for Clinical Research Quality at the Stanford University School of Medicine and is the Medical Director of the Stanford Clinical Translational Research Unit – a unit specializing in first-in-human phase I clinical trials. Dr. Pegram’s research efforts have resulted in more than 110 publications in preclinical model systems, as well as phase I, II and III clinical trials across different cancer types, most with a breast cancer focus.

Through his consultancy role as Chief Medical Advisor, Dr. Pegram will help lead peer to peer medical strategy and education on the clinical utility of the Breast Cancer Index, supported by highly consistent findings from translational evidence in multiple large, prospective, randomized clinical trials. Dr. Pegram will help to further educate practitioners on the importance of individualizing extended endocrine therapy decision-making based on predicting patient benefit and the growing body of predictive evidence supporting Breast Cancer Index, balanced against the known toxicities associated with extended adjuvant endocrine therapy. He will also provide key insights into future development and pipeline strategy.

Dr. Pegram affirms, “Whether or not to treat hormone receptor positive early stage breast cancer with extended adjuvant endocrine therapy is one of the most challenging questions we and our patients face in breast oncology. Clinical decision making informed by precision medicine approaches such as the BCI is an important advance beyond routine clinical parameters such as stage, grade, proliferation markers and steroid receptor expression levels, to better predict who will truly benefit from extended adjuvant endocrine therapy versus those who may safely avoid the significant toxicities of such therapy.”

Don Hardison, Biotheranostics’ President and CEO adds, “We are thrilled to have Dr. Mark Pegram join Dr. Anthony Greco as Chief Medical Advisors for our two proprietary tests Breast Cancer Index and CancerTYPE ID.”  

About Breast Cancer Index

Breast Cancer Index is a molecular, gene expression-based test uniquely positioned to provide information to help physicians individualize treatment decisions for patients with early stage, HR+ breast cancer. This breakthrough test helps oncologists and patients navigate the difficult trade-off between taking steps to prevent recurrence of their disease and facing significant side effects and safety challenges related to unnecessary treatment. Breast Cancer Index holds guidelines designation from the American Joint Committee on Cancer for cancer staging based on molecular profile; ASCO, NCCN, European Group on Tumor Markers (EGTM), and St. Gallen to inform the chemotherapy decision; and ASCO and EGTM to inform the extended endocrine treatment dilemma. It is the only validated, commercially available test that provides risk of overall and late distant recurrence and predicts the likelihood of benefit from extended endocrine therapy. For more information, visit www.breastcancerindex.com.

About Biotheranostics

Biotheranostics, Inc. operates a CLIA-certified and CAP-accredited diagnostic laboratory in San Diego, California. Biotheranostics, Inc., is a leading healthcare provider in the oncology field assisting physicians in the treatment of cancer patients. Its suite of proprietary molecular diagnostic tests provides important information to physicians to tailor treatment to individual patients. The company’s Breast Cancer Index and CancerTYPE ID® tests address a variety of unmet medical needs in the management of cancer patients, and extensive clinical studies have confirmed the accuracy, clinical validity, clinical utility, and cost-effectiveness of the tests. Learn more at www.breastcancerindex.com.



Lisa Whitmyer
Biotheranostics, Inc.
216-513-7808
[email protected]

C2C Gold Announces Property Purchase Agreement With Engineer Gold Mines Ltd.

VANCOUVER, British Columbia, Dec. 03, 2020 (GLOBE NEWSWIRE) — C2C GOLD CORP. (CSE: CTOC; OTCQB: TAKUF) (formerly Taku Gold Corp.) is pleased to announce that it has entered into a final purchase agreement with Engineer Gold Mines Ltd. (“Engineer”) pursuant to which C2C Gold has agreed to sell its interest in the Tag property, in British Columbia, to Engineer in consideration for:

  • Payment of $100,000 on or before July 31, 2020 which receipt has been acknowledged;
  • Payment of $100,000 on or before February 26, 2021;
  • Issuance of 2,000,000 common shares of Engineer within five days of TSX Venture Exchange (“TSXV”) approval; and
  • Payment of 1% net smelter return royalty on the property.

The closing of the Acquisition is subject to the approval of TSX Venture Exchange.

About C2C Gold Corp.

C2C Gold Corp is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland, Canada. The Company holds the Millertown, Badger and Barren Lake projects, which cumulatively cover an area of 493 km² with road access and proximity to communities and power lines. All projects lie with the Central Newfoundland Gold Belt and provide a large land position in a top mineral exploration jurisdiction. Mineral development in Newfoundland has advanced significantly with increased exploration and development activities throughout the province. C2C also holds one of the largest land packages, with several prominent projects, within the prolific White Gold and Klondike districts in Canada’s Yukon.

For additional information:

Lori Walton, Chief Executive Officer
(604)757-7180
[email protected]
www.c2cgold.com

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.



Hill International to Manage the LinkUS and BNSF Projects for the Southern California Regional Rail Authority as Part of the $10 Billion SCORE Program

PHILADELPHIA and IRVINE, Calif., Dec. 03, 2020 (GLOBE NEWSWIRE) — Hill International (NYSE:HIL), the global leader in program and construction management and managing risk, announced today it was awarded a contract to provide Project Management Support Services to the Southern California Regional Rail Authority (SCRRA) for the LinkUS and BNSF components of the Southern California Optimized Rail Expansion (SCORE) program. The $10 billion SCORE program will achieve SCRRA’s 2028 service vision, which coincides with the Los Angeles 2028 Olympic and Paralympic Games, and SCRRA’s 2015-2025 Strategic Plan. Hill is supporting SCORE as part of a $50 million on-call PM/CM contract with the SCRRA, awarded in March 2020.

Hill Vice President, California Rail/Transit Practice Leader Mary Toutounchi, PE, will lead the Hill team’s work. “These projects are vital to realizing the goals of the SCORE program, and to realize them on time and within budget,” Toutounchi explains. “Coordinating work and managing interfaces with ridership, regulatory agencies, and the impacted communities along the alignments will be critical to keeping work progressing as planned.” Toutounchi notes that Hill’s work on similarly complex and ambitious rail programs in Southern California gives the team the tools to support SCRRA manage the project successfully.

The LinkUS project will renovate and modernize a 1939 station to improve the ridership experience for SCRRA, Amtrak, and the California High Speed Rail Authority (CHSRA) by delivering a new and modern concourse, and enable run-through services by constructing run-through tracks on a new viaduct over Highway 101. The BNSF component consists of a series of projects along the BNSF San Bernardino Subdivision (SBS) to enhance safety, reliability, and capacity of freight and passenger train operations. Hill’s professionals will monitor the program and verify costs, schedule, and final outcomes of the projects meet the objectives of the SCORE program.

Hill Chief Executive Officer Raouf Ghali says of the award: “Transit infrastructure in Southern California is always a priority, both in terms of improvements and maintenance. The SCORE program exemplifies the commitment of California’s taxpayers to smart, efficient, and sustainable public transit, and these two projects showcase that commitment. Hill specializes in complex rail programs and projects, and LinkUS and BNSF will be significant additions to our California rail portfolio.”

About Hill International

Hill International, with approximately 2,700 professionals in 69 offices worldwide, provides program management, project management, construction management, and other consulting services to clients in a variety of market sectors. Engineering News-Record magazine recently ranked Hill as the eighth-largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.

Forward Looking Statements

Certain statements contained herein may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and it is our intent that any such statements be protected by the safe harbor created thereby. Except for historical information, the matters set forth herein including, but not limited to, any statements of belief or intent, any statements concerning our plans, strategies, and objectives for future operations are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although we believe that the expectations, estimates, and assumptions reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results to differ materially from estimates or projections contained in our forward-looking statements are set forth in the Risk Factors section and elsewhere in the reports we have filed with the Securities and Exchange Commission, including that unfavorable global economic conditions may adversely impact our business, our backlog may not be fully realized as revenue, and our expenses may be higher than anticipated. We do not intend, and undertake no obligation, to update any forward-looking statement.

Hill International, Inc.

Elizabeth J. Zipf, LEED AP BD+C
Senior Vice President
(215) 309-7707
[email protected]

The Equity Group
, Inc.

Devin Sullivan
Senior Vice President
(212) 836-9608
[email protected]