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New owner takes Tishman Construction global
New unit, formed with construction company's chief executive and owner Aecom's name, will sell soup-to-nuts building services.
World Trade Center Site Under Construction.
By Shane Dixon Kavanaugh
One of the world's largest engineering and design firms unveiled Thursday a new division that for the first time will take projects from design through construction, and it tapped the president of one of New York's largest construction firms to make it happen.
Los Angeles-based Aecom Technology Corp. announced it has named John Livingston of Tishman Construction Corp. to lead what will be called Aecom Construction Services, which will offer its services to large commercial and institutional clients.
“Integrated delivery is a godsend for many clients,” said Mr. Livingston, who noted that such a soup-to-nuts service line has become especially attractive to increasingly cash-strapped government clients here and abroad.
The 113-year-old Tishman was bought by Aecom, which is primarily a design and engineering firm, last summer in a $245 million deal. The creation of the new unit gives Aecom the opportunity to pitch Tishman's talents around the world.
“We were a New York-centered construction company,” Mr. Livingston said. “The merger allowed us to be global in one day.”
Tishman's construction projects have included Goldman Sachs Group Inc.'s new headquarters in lower Manhattan, as well as the original World Trade Center. Its current projects include the new World Trade Center.
Last year, Aecom employed 52,000 people around the world and generated more than $6 billion in revenue.
“It doesn't surprise me that Tishman people are playing a more prominent role in the Aecom merger,” said Louis Coletti, president of the Building Trades Employer's Association. “They bring a lot to the table.”
Posted by John Musumeci at 6:29 PM
Thursday, February 17, 2011