The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Business Wire

Tetra Tech Awarded $40 Million USAID Indonesia Forestry and Climate Support Program

Tuesday, November 30, 2010

Tetra Tech Awarded $40 Million USAID Indonesia Forestry and Climate Support Program09:01 EST Tuesday, November 30, 2010 PASADENA, Calif. (Business Wire) -- Tetra Tech, Inc. (NASDAQ: TTEK) announced today that it has been awarded a program to manage the U.S. Agency for International Development (USAID) Indonesia Forestry and Climate Support (IFACS) project. The USAID IFACS program seeks to reduce the threats of deforestation and climate change by helping to conserve Indonesia's tropical forests, wildlife, and ecosystem processes, including carbon sequestration. The USAID IFACS task order was awarded under the Company's Prosperity, Livelihoods, and Conserving Ecosystems (PLACE) indefinite quantity contract. This four-year program is valued at $40 million, with an initial obligation of $13.8 million. The USAID IFACS program aims to cut in half the rate of Indonesian forest degradation due to illegal logging, over-harvesting, fires, and other forest loss across more than 10 million acres of forested land in targeted areas. “Indonesia contains the world's third largest expanse of tropical forest,” said Dan Batrack, Tetra Tech's Chairman and CEO. “Indonesia's future stability and prosperity is dependent upon its natural resource base. Tetra Tech is proud to support USAID's efforts to assist the Indonesian government with restoring the forests and improving forest management systems.” Tetra Tech will provide technical support to help Indonesians improve land and forest resource governance; build local awareness, capacity, and support for a landscape approach to forest management; develop private sector, local enterprise, and market linkages in support of the program goals; and provide overall project management services for the USAID IFACS project. About Tetra Tech (www.tetratech.com) Tetra Tech is a leading provider of consulting, engineering, program management, construction, and technical services addressing the resource management and infrastructure markets. The Company supports government and commercial clients by providing innovative solutions focused on water, the environment, and energy. With approximately 12,000 employees worldwide, Tetra Tech's capabilities span the entire project life cycle. Any statements made in this release that are not based on historical fact are forward-looking statements.Any forward-looking statements made in this release represent management's best judgment as to what may occur in the future.However, Tetra Tech's actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed.For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company's Form 10-K and 10-Q filings with the Securities and Exchange Commission. Tetra Tech, Inc.Jorge Casado, Investor RelationsTalia Starkey, Media & Public Relations626-470-2844