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May 26, 2007
CCA Expands Oklahoma Prisons
Associated Press
Corrections Corp. Expands Okla. Prisons
Associated Press 05.24.07, 11:05 AM ET
Private prison operator Corrections Corporation of America said Thursday it will expanding two Oklahoma prisons to accommodate increased demand from several state customers.
CCA plans to add 660 beds to its 1,032-bed Cimarron Correctional Facility in Cushing, Okla., and another 660 to its 1,010-bed Davis Correctional Facility in Holdenville, Okla. The company expects to complete the expansions by the end of the third quarter at a cost of $90 million.
The state of Oklahoma handles inmates at both prisons, which are running at or near full capacity.
Corrections Corporation of America (nyse: CXW - news - people ) shares hit a new 52-week high of $63.25 in morning trading before sliding back to $62.79, up 38 cents.
Copyright 2007 Associated Press. All rights reserved.
http://www.forbes.com/feeds/ap/2007/05/24/ap3754928.html
Posted by lois at May 26, 2007 05:06 PM