Balfour Beatty Plans to Become ‘Major Player’

In a statement announcing the completion of its acquisition of Centex Construction for $367 million in cash, U.K.-based Balfour Beatty plc called the transaction a “key milestone” in the company’s plans to become a “major player” in the U.S. building market.

The acquisition was first announced in February, and finalized by the end of March. According to Balfour Beatty, the company’s U.S. portfolio now has revenues of approximately $3.5 billion. The company further stated that the former Centex business will have total revenues of more than $2.2 billion this year. Effective in April, Centex is now operating under the name Balfour Beatty Construction.

Andy Rose, Balfour Beatty’s group managing director for the U.S., made the following statement upon the company’s completion of the Centex acquisition: “Establishing a major presence in the U.S. building market, with strong capabilities in program management, project delivery and capital investment, is a crucial element in Balfour Beatty’s long-term growth strategy.”

Balfour Beatty is already involved in the design/project management/program management sector with its Heery International business, and is active in the private finance market through its Balfour Beatty Capital unit. The company also is active in the civil engineering sectors through its Balfour Beatty Infrastructure and Balfour Beatty Rail businesses.

Central Florida NAIOP Raises $18,000 for UCF

The Central Florida chapter of the National Association of Industrial and Office Properties’ recent annual golf tournament raised approximately $18,000 for the University of Central Florida’s new Dr. P. Phillips School of Real Estate. The amount adds to the approximately $10 million that Central Florida NAIOP has helped raise for the new school at UCF.

 “NAIOP continues to work hard to make sure the school is a top priority for the Central Florida real estate community,” said Dr. Thomas Keon, dean of UCF’s College of Business Administration. To date, nearly 200 students are either majoring or minoring in real estate.

Tilt-Con Wins Golden Trowel at World of Concrete

Orlando-based Tilt-Con Corp. announced it received the “Golden Trowel Award” at the World of Concrete tradeshow held earlier this year in Las Vegas. The award recognizes the most-level floor slab, won by Tilt-Con for its work on the 913,000-sq-ft City Furniture facility in Tamarac, Fla.

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