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January 30, 2006
The GEO Group get $34 million contract to manage San Diego Detention Facility
BOCA RATON, Fla., Jan. 4 /PRNewswire-FirstCall/ -- The GEO Group, Inc. (NYSE: GGI) ("GEO") announced today it received a contract award from the Office of the Federal Detention Trustee ("OFDT") for the continued management and operation of the 700-bed Western Region Detention Facility located in San Diego, California. GEO is currently managing the Detention Facility on behalf of the United States Marshals Service ("USMS") under a contract extension period, which expires on January 5, 2006. The new management contract has a five-year term beginning January 6, 2006 with a five-year renewal option and is expected to generate approximately $34 million in annual revenues.
Posted by lois at January 30, 2006 09:40 AM