AEROTERM TO DEVELOP $160 MILLION O’HARE NORTHEAST CARGO PROJECT

CHICAGO — The Chicago Department of Aviation has selected Maryland-based Aeroterm U.S. Inc. to serve as the master developer for more than 55 acres of land and 750,000 square feet of building space for cargo facilities located in the northeast area of Chicago’s O’Hare International Airport. The master plan for the multi-phased O’Hare Northeast Cargo project calls for the completion of four cargo processing facilities and airside aircraft parking spaces. New facilities are being completed in order to accommodate a larger generation of freighter aircraft. The overall development will include the construction of truck docks, employee parking areas, comprehensive security controls and an expansion of the existing northeast fuel farm. While the project will cost approximately $160 million to complete, the city of Chicago will receive $350 million from a 35-year ground lease. Additionally, the entire project is expected to bring more than 1,200 construction jobs and more than 2,000 permanent jobs to the city. Construction of the first phase of development is expected to begin by 2012. According to the Department of Aviation commissioner, the development will approximately double O’Hare International Airport’s cargo capacity.