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| CCA Awarded Three-Year Contract Renewal With California |
| By globenewswire.com |
| Published: 10/13/2015 |
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NASHVILLE, Tenn., Oct. 13, 2015 (GLOBE NEWSWIRE) -- CCA (NYSE:CXW) (the “Company” or “Corrections Corporation of America”), America's largest owner of partnership correctional and detention facilities, announced today that it has renewed its contract with the California Department of Corrections and Rehabilitation (CDCR) through June 30, 2019. The contract renewal provides for up to 6,562 beds to be made available to CDCR during the renewal term at any of CCA's facilities. Actual utilization will depend on CDCR's bed needs as the state addresses a federal court capacity cap. CCA currently houses approximately 6,000 California inmates at our La Palma Correctional Center, Florence Correctional Center, Tallahatchie County Correctional Facility and North Fork Correctional Facility. The contract includes renewal options to extend beyond the three-year term upon mutual agreement by both parties. The remaining terms and conditions of the new contract are substantially unchanged from the existing contract, which was scheduled to expire June 30, 2016. "We are pleased to have the opportunity to continue our strong relationship with the state of California," said Damon Hininger, CCA's chief executive officer. "The flexibility that CCA is able to provide CDCR in safely and securely managing its populations has been a cornerstone of our partnership since its inception in 2006 and we will continue to seek opportunities to provide further assistance to the state." Read More. |
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