Tutor Perini Buys Privately Held Fisk Electric

PRESS RELEASE, 01.03.2010

Jan 3 (Reuters) - Civil and building construction company Tutor Perini Corp (TPC.N) acquired privately held Fisk Electric to expand its electrical construction business.

Tutor Perini, which builds hotels, casinos, healthcare facilities and builds and maintains highways, said it will pay $105 million plus an amount to be determined based on Fisk's operating results for 2011-2013.

Houston-based Fisk makes electrical and technology systems for commercial office buildings, sports arenas, hospitals, casinos and industrial facilities.

It generated about $305 million in revenue in fiscal 2010, and has a backlog of $190 million.

Shares of Tutor Perini, with a $4 billion backlog as of its 2010 third quarter, closed at $21.78 on Monday on the New York Stock Exchange.

Call Project Technology Solutions today to arrange a live demonstration of the power of web based construction software.

Project Technology Solutions (ProTech)
Preferred Dealer for Procore - Web Based Construction Software
866-570-4640
Posted by ProTech at 1/4/2011 4:16 PM
Categories: Press Release
Tags: Perini corp fisk electric protech procore dealer construction cloudware web based construction softw
 

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