Acquisition

17th Feb 2005 16:28

Balfour Beatty PLC17 February 2005 17 February 2005 BALFOUR BEATTY STRENGTHENS US PROJECT MANAGEMENT ARM WITH CALIFORNIA ACQUISITIONS ============================ Balfour Beatty, the international engineering, construction and servicescompany, announces today that its US subsidiary, Heery International, theintegrated architectural, engineering, project and construction managementbusiness, has acquired JCM Group, one of Southern California's premier projectmanagement companies, and its subsidiary, Facilities Planning & Management(FPM), for a consideration of approximately $10 million. JCM and FPM operate in California, have more than 100 employees and areparticularly strong in the higher education, healthcare, government and Fortune500 markets. Among their clients are Boeing, Canon, Nissan, the US Food and DrugAdministration, the University of California and California State University. This transaction follows last year's acquisition, by Heery, of HLM Design, aPhiladelphia-based design and engineering firm which is a leader in the planningand design of healthcare projects. HLM has completed projects to the value ofover $450 million over the last 10 years. Heery, which has headquarters in Atlanta, is a 1000-employee architecture,interior design, engineering, facility management, programme management andconstruction management firm. ENDS Enquiries to:Tim SharpTel: 020 7216 6884www.balfourbeatty.com Notes to Editors---------------- 1. Heery has annual sales of approximately $250 million and some 30 offices across the US. 2. Heery is a US market leader and operates, predominantly, for clients in the education, aviation, healthcare, high-tech, justice, sports and federal government sectors. It was founded in 1952 and was acquired by Balfour Beatty in 1986. 3. Balfour Beatty is a world-class engineering, construction and services group, well positioned in infrastructure markets which offer significant growth potential. Its partnerships with public and private customers generate secure, sustainable income. Its financial position, with significant net cash and with strong operating cash flows, offers continuing flexibility to add additional capacity and expertise to the business mix and to make appropriate investments in PPP and other long-term growth opportunities. This information is provided by RNS The company news service from the London Stock Exchange

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