Burns and Roe Group Agrees to Merge Burns and Roe Enterprises Into POWER Engineers
Through a joint press release, Burns and Roe Group (BRG) announced that Burns and Roe Enterprises (BRE) and POWER Engineers have entered into an agreement to merge BRE engineering services business activities into POWER Engineers. To accomplish this merger, POWER will purchase the stock of BRE from Burns and Roe Group. (See joint POWER Engineers and Burns and Roe Enterprises press release at: http://www.roe.com/press-release/
Burns and Roe Services Corporation (BRSC), the operations and maintenance subsidiary of BRG, is not part of this transaction and will continue normal operations unaffected by this change in BRE. There will be some transition of corporate support systems over the next few months; however, there will be no change in the organizational structure. BRSC will continue to report to Keith Roe, the President and CEO of BRG, and provide start-up, logistics support, and maintenance and operations for seawater and fresh water treatment plants, utility power facilities, research and development laboratories, test complexes, and major military bases and installations.
Regarding the BRE merger with POWER Engineers, the merger results from a POWER strategic initiative to join forces with a strong firm in the generation market in order to broaden and expand its power generation business. The long history and experience of BRE made for an excellent fit with POWER's goals. From the BRE perspective, the Burns and Roe Board of Directors determined that for the company to take full advantage of the opportunities developing in the marketplace, joining with another firm would accelerate its market penetration and enable the company to better serve its clients. With POWER's financial strength and complementary clients and services, the combination is also ideal for BRE.
Keith Roe, President and CEO of Burns and Roe Group, commented: 'This is an excellent strategic move for BRE to strengthen its presence and reach in the power market. Equally important, this is also a win-win for BRSC and its clients. BRSC will be stronger, will retain all its current capabilities, and will still be able to work with BRE after the transaction through a support services agreement, much the same as how we work today.'
BRSC will continue to operate out of its current Virginia Beach, VA office and looks forward to continuing to work with clients and industry partners as we have in the past providing responsive and exceptional service.
About Burns and Roe and BRSC
Burns and Roe is a privately held, comprehensive engineering, procurement, construction, operations and maintenance organization with specialized expertise in technically complex facilities. With over 1200 personnel worldwide, Burns and Roe and its affiliated companies serve private and governmental clients in the power, industrial, and government service industries. The firm is a world leader in the markets that it serves. Engineering News-Record consistently ranks Burns and Roe among the country's top power design firms.
BRSC provides expert operations, maintenance, repair, and construction services throughout the world supporting government and commercial organizations in the operation and maintenance of bases or facilities including utilities, desalination, logistics support, transportation (including seaports and airfields, as well as road and rail vehicles and networks), housing, food service, and safety and security facilities.