Corporate News: Page 2

Founders of modular builder Guerdon buy company assets, form new business

The owners, who bought the Idaho company in a foreclosure sale, say the new firm will capitalize on labor shortages and rising construction costs in West Coast markets.

By Kim Slowey • March 10, 2020

AECOM NYC office nabs MTA, Port Authority veterans

The hiring of former New York MTA CEO Tom Prendergast and former Port Authority COO Denise Berger will no doubt help AECOM tap into large public projects in a time when demand and competition are heating up.

By Jenn Goodman • March 05, 2020

SEC, some shareholders oppose McDermott Chapter 11 plan

The opposition stems from the plan's overly broad liability releases and the fact that management gets new equity while stockholders are shut out.

By Jenn Goodman • March 05, 2020

Procore files IPO paperwork with SEC

The Carpinteria, California-based construction tech firm says it has a potential $9.4 billion annual market opportunity for its software in the coming years.

By Kim Slowey • March 04, 2020

Tutor Perini calls off potential acquisition

Citing volatile market conditions, the Los Angeles-based contractor said that acquisition talks have been terminated.

By Jenn Goodman • UPDATED: May 14, 2020 at 9:30 a.m.

WSP CEO talks acquisition strategy in FY earnings call

Alexandre L'Heureux indicated the company is acquisitive but declined to comment on "market speculations," likely referencing the AECOM rumors, and noted that it's "very, very hard to time large-size acquisitions."

By Jenn Goodman • Feb. 27, 2020

Tutor Perini closes out 2019 with stable revenue, net loss

The company had two major charge-offs in 2019, one related to losing a court case related to the Alaskan Way Viaduct Replacement Project in Seattle and the other associated with a decrease in the price of its stock.

By Kim Slowey • Feb. 27, 2020

Lendlease reports 9% decline in construction profits

The Australia-based global contractor, which is finalizing one sale and looking for a buyer for another, also appointed an American to its board of directors.

By Jenn Goodman • Feb. 21, 2020

Fluor decides to keep government business, faces SEC investigation

Due to the Securities and Exchange Commission probe, the Texas-based contractor released limited FY 2019 financial information today, and noted that 2020 "is going to be a transition year" for the firm.

By Jenn Goodman • Feb. 18, 2020

Bankruptcy judge OKs McDermott's $106M bonus plan

The energy contractor, which filed Chapter 11 in January, has received permission to provide up to $26.8 million in total incentives for 13 management team members and the rest of the amount to 1,112 other key employees.

By Jenn Goodman • UPDATED: Feb. 25, 2020 at 9:38 a.m.

Q&A

New Swinerton CEO talks about growth in conversation with Construction Dive

Eric Foster discusses labor retention, construction technology and the importance of diversification as he takes the reins of the 132-year-old employee-owned company.

By Jenn Goodman • Feb. 14, 2020

AECOM, Skanska, Katerra, more switch up execs in new year

Suffolk, Granite and Swinerton have all made big personnel changes as well so far this year, and Thornton Tomasetti leadership changes are six-fold. Women and people of color are predictably underepresented.

By Kim Slowey • Feb. 12, 2020

Bechtel opens NYC office to capitalize on infrastructure opportunities

The top contractor by revenue has opened a Manhattan office to improve work on transit and other projects in the area.

By Jenn Goodman • Feb. 11, 2020

Skanska's construction division records 245% increase in earnings in 2019

The Swedish multinational recorded an operating margin of 2.4% and operating income of $3.8 billion Swedish krona (U.S. $394 million).

By Jenn Goodman • Feb. 07, 2020

Suffolk rebrands, expands beyond construction

Suffolk's new strategy will see its increased involvement through the entire lifecycle of a construction project.

By Kim Slowey • Feb. 05, 2020

AECOM records Q1 earnings decline, finalizes division sale, stays mum on potential WSP merger

During the company's Q1 earnings call, CEO Michael S. Burke mentioned the search for his successor and announced the sale of the firm's Management Services division.

By Jenn Goodman • Feb. 04, 2020

Lendlease names Mike Fratianni new managing director of its Americas construction division

Fratianni started his construction career in the trades and spent more than 30 years with the company that was to become AECOM Hunt.

By Kim Slowey • Feb. 04, 2020

John Laing CEO Olivier Brousse resigns

John Laing operations, including its billion-dollar-plus U.S. projects, should remain unchanged, a source close to the international infrastructure development firm told Construction Dive.

By Kim Slowey • Jan. 24, 2020

McDermott to file for Chapter 11

The struggling energy construction giant announced it would file a prepackaged restructuring plan at the U.S. Bankruptcy Court in Houston.

By Jenn Goodman • Jan. 21, 2020

WSP share sale renews rumors of AECOM deal

Some analysts report that a deal between the two engineering and construction giants could be back on the table.

By Jenn Goodman • UPDATED: June 3, 2020 at 9:17 a.m.

The public construction firms to watch in 2020

Risk reduction, deleveraging and even bankruptcy are on the table for some of the industry's top publicly traded companies this year.

By Jenn Goodman • Jan. 10, 2020

Gilbane taps former Skanska CEO in leadership rearrangement

New additions to the team, which center around the company's New York and New England divisions, include former CEO and president of Skanska USA, Rich Cavallaro.

By Kim Slowey • Jan. 10, 2020

Top trends: 5 ways construction will evolve in 2020

Though the nation's second-largest industry seems like it doesn't change much, there are myriad, nuanced forces shaping the way contractors do business and buildings get built, and more so now than ever before.

By Joe Beeton • Jan. 07, 2020

Rosendin names new executive team for 2020

The $2 billion employee-owned electrical contractor is transitioning five officials into leadership roles, including CEO, as part of a retirement succession plan. 

By Kim Slowey • Dec. 16, 2019

Katerra closing Phoenix modular building facility, laying off 200 workers

The California-based designer and builder of prefabricated components and mass timber modular units said it's on a growth path toward profitability next year despite having to close the 250,000-square-foot facility this month.

By Joe Beeton • Dec. 10, 2019