ABM Industries Incorporated (ABM - Free Report) , a leading provider of facility solutions, recently announced that Wright State University has selected its ABM Building Solutions service line to execute a campus-wide energy conservation project and lower the university’s energy consumption by nearly 40%. With this project, ABM will help the universities to save $35.8 million over the next 15 years.
This project includes enhancement of Wright State University’s heating and cooling equipments and utilizing its pond for geothermal cooling. This project will be beneficial for Wright State University as it will incorporate innovative and established energy saving technologies that will revolutionize the campus operations and at the same time, help it generate savings that might be utilized for other projects.
ABM aims to provide its clients with cost-effective and eco-friendly long-term solutions to cater their facility service needs. ABM has a long-standing relationship with Wright State University. Earlier, in 2009, the company completed its first energy conservation project and provided the university with more than $1.3 million in annual energy savings.
Headquartered in San Francisco, Calif, ABM provides engineering, janitorial, parking, and security services to commercial, industrial, institutional, and retail facilities across the U.S. as well as Puerto Rico, British Columbia, and Canada. The company has approximately 100,000 employees in over 350 offices with revenues exceeding $ 4 billion.
The company operates in an intensely competitive landscape that includes big players such as Fiserv, Inc (FISV - Free Report) and Global Payments Inc (GPN - Free Report) . ABM currently has a Zacks Rank #3 (Hold). One of its competitors, Total System Services Inc (TSS - Free Report) carries a Zacks Rank #2 (Buy).