ACS Combines Flatiron, Dragados Into Single Engineering and Construction Company
Flatiron and Dragados are already in a joint project for the $1.2-billion Harbor Bridge in Corpus Christi, shown in an April development photo.
Portray courtesy of the Harbor Bridge Mission
ACS Neighborhood says it’s integrating its North American civil engineering and constructing businesses by combining Dragados with Flatiron Construction into a single operation. In announcing the combo July 30, Madrid-primarily primarily based mostly ACS talked about that Flatiron-Dragados would become the second-largest civil engineering firm within the U.S.
“The operation objectives to simplify the crew’s constructing of the civil engineering exercise in North The United States, facilitate the connection with diversified stakeholders and promote administrative and financial synergies,” ACS talked about.
There had already been end hyperlinks between the firms. ACS owns Dragados and is moreover the majority owner of Hochtief, the Essen, Germany-primarily primarily based mostly contracting company that owns Turner Construction.
Flatiron and Dragados delight in moreover been joint project companions and are within the indicate time the pinnacle contractor for the Harbor Bridge in Corpus Christi, Texas, and Construction Equipment 2-3 of the California High Speed Rail project.
ACS and Hochtief talked about that they’d agreed to phrases below which ACS Neighborhood would agree with 61.8% and Hochtief 38.2% of Flatiron-Dragados.
Broomfield, Colo.-primarily primarily based mostly Flatiron and New York Metropolis-primarily primarily based mostly Dragados had a blended $6.4 billion in 2023 earnings and ranked 49 and 37, respectively, on the ENR Top 400 Contractors.
The newly fashioned entity shall be led by Dragados CEO Javier Sevilla. Peter Davoren, CEO of Turner, regularly is the contemporary company’s chairman.
A spokesman for Turner talked about that Davoren will moreover live CEO, president and chairman of Turner Construction Co.
Turner 2024 Operating Outcomes
One by one, ACS reported results for the first half of 2024 of $450 million in secure after-tax earnings, up 8.1% over the prior year first half, on $20.2 billion in sales, due to solid efficiency, “in particular Turner in North The United States.”
ACS further reported that Turner had first half sales of $9.35 billion, up 13.5% from the prior year first half, and pre-tax earnings of $267 million, up 38.5%.
Deputy Editor Richard Korman helps fling ENR’s enterprise and good news and investigations, selects ENR’s commentary and oversees editorial speak material on ENR.com. In 2023 the American Society of Industry E-newsletter Editors awarded Richard the Stephen Barr Award, the supreme honor for a single characteristic narrative or investigation, for his narrative on the aftermath of a terrible auto crash in Kentucky in 2019, and in 2015 the American Industry Media awarded him the Timothy White Award for investigations of surety fraud and place of work bullying. A member of Investigative Journalists and Editors, Richard has been a fellow on drone safety with the McGraw Center for Industry Journalism on the Craig Newmark Graduate Faculty of Journalism at CUNY. Richard’s freelance writing has looked within the Seattle Times, the New York Times, Industry Week and the online sites of The Atlantic and Salon.com. He admires constructing initiatives that produce on time and budget, compensate all team members somewhat and file zero fatalities or extreme accidents.
