GEO Group (GEO) Says BOP Rescinded Previously Granted Contract Modification to Operate D. Ray James Correctional Facility
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The GEO Group Announces Change to Contract Renewal Status for the D. Ray James Correctional Facility
August 19, 2016 9:56 AM EDTBOCA RATON, Fla.--(BUSINESS WIRE)-- The GEO Group, Inc. (NYSE: GEO) ("GEO") announced today that the Federal Bureau of Prisons (the BOP) has rescinded its previously granted contract modification extending GEOs contract to operate the company-owned D. Ray James Correctional Facility (the Facility) under existing terms through September 30, 2018.
Based on ongoing discussions between GEO and the BOP, GEO expects to receive a new contract modification to operate the Facility under new terms to be negotiated. GEO will discuss this most recent development on its previously scheduled conference call at 11:00 AM (ET).
... More
The GEO Group Announces Contract Renewal by the Federal Bureau of Prisons for the D. Ray James Correctional Facility
August 19, 2016 7:30 AM EDTBOCA RATON, Fla.--(BUSINESS WIRE)-- The GEO Group, Inc. (NYSE: GEO) ("GEO") announced today that the Federal Bureau of Prisons (the BOP) has extended its contract for the company-owned D. Ray James Correctional Facility (the Facility) for a renewal term through September 30, 2018 under its existing ten-year contract which is effective through September 30, 2022.
George C. Zoley, Chairman and Chief Executive Officer of GEO, said, We are very appreciative of the continued confidence placed in our company by the Federal Bureau of Prisons with this important contract renewal. Our company-owned D. Ray James Correctional Facility provides... More
