News
AECOM Grabs Tishman; Fashion District Stroll
July 15, 2010
| AECOM Technology Corp. announced yesterday that it acquired Tishman Construction Corp. for $245M in cash and common stock. And here's the drill down: it expands AECOM's higher-margin construction and project management business—a market estimated to be in excess of $100B globally by Engineering News-Record. |
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| We snapped this of Tishman chairman Daniel Tishman with The Durst Org. chair Douglas Durst in May (Tishman was construction manager for Durst's 4 Times Square). He'll continue to head Tishman's operations and joins AECOM as vice chair and board member. The construction firm brings 900 employees across the US and United Arab Emirates, and generates annual revenues of $1B. Some of its current notable projects: One and Four World Trade Center, and the US Food and Drug Administration's 5.5M SF HQ in DC. In a JV with AECOM, it's also serving as construction manager for phase 1 of the Department of Homeland Security's new DC HQ on the St. Elizabeths campus. |
