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Additional Information
Market: LSE
Sector: Construction & Materials
EPIC: BBY
Latest Price: 287.80p  (2.82% Ascending)
52-week High: 360.50p
52-week Low: 214.60p
Market Cap: 1,978.18M
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Balfour Beatty
www.balfourbeatty.com

Balfour Beatty is a diversified engineering, construction and services company with operations in the UK, Europe, the US, South-East Asia, Australia and the Middle East.

Full Balfour Beatty profile here
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Balfour Beatty buys further US Construction Contractor for up to US$25 mln

13th Nov 2009, 9:52 am Balfour Beatty buys further US Construction Contractor for up to US$25 mln

Balfour Beatty (LSE: BBY) announced is to acquire Texas based SpawMaxwell Co from its management for up to US$25 million in cash. SpawMaxwell is one of the largest contractors in Houston, Texas. The company also has offices in Austin and Dallas and has delivered more than 40 million square feet of interior construction projects.

This latest acquisition enhances the position of Balfour Beatty in the US construction and infrastructure industry and is line with its strategy of expanding in selected geographic markets. The acquisition adds to several bolt-on acquisitions in the American market by Balfour Beatty in recent months.

Most notably Balfour Beatty completed a substantially larger US$626m acquisition of US infrastructure specialists Parsons Brinckerhoff in October. In February, Balfour Beatty acquired RT Dooley Construction, a family-owned construction firm based in Charlotte, North Carolina.

Balfour Beatty chief executive Ian Tyler commented on the SpawMaxwell acquisition: “The acquisition of SpawMaxwell provides us with a substantial presence in key Texas markets outside Balfour Beatty Construction's base in Dallas and enables us to provide an expanded range of services for customers. We look forward to SpawMaxwell joining the Balfour Beatty Group and driving our growth across the largest building markets in Texas."

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