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WS Atkins plc To Dispose Of Peter Brown To Moss & Associates

Friday, 16 Aug 2013 02:00am EDT 

WS Atkins plc announced that it has signed an agreement to dispose of the ongoing operations of Peter Brown, its US construction management at risk business, to Moss & Associates. Moss is a privately held construction firm headquartered in Fort Lauderdale, Florida. Moss focuses on construction management at risk, design-build and public-private partnerships in the southeast of the United States. As part of this agreement Atkins will pay Moss a cash sum of GBP2.6 million. Peter Brown, which currently employs 50 staff, reported an operating loss of GBP6.5 million, on revenue of GBP24.4 million, in the year to March 31, 2013. This result included losses incurred on the completion of certain legacy construction contracts, the final one of which will be completed in the spring of next year and does not form part of the business transferring to Moss. 

Company Quote

-6.0 -0.44%
24 Dec 2014