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| Balfour Beatty completes acquisition of Centex Construction UK construction giant Balfour Beatty announces the completion of its acquisition of Centex Construction, the leading US building construction company, for a cash consideration of $362 million. The acquisition, which was announced on 1 February, is a major step forward in the group's long-term strategy of building a major domestic presence in the US on Balfour Beatty's UK model and gives Balfour Beatty pro-forma annual US revenues of approximately $3.5 billion. Balfour Beatty is already established in the US not only through Heery and Balfour Beatty Capital but also through its civil engineering business, Balfour Beatty Infrastructure Inc, and Balfour Beatty Rail Inc. Centex Construction, which has been renamed Balfour Beatty Construction LLC with immediate effect, joins the Balfour Beatty Group with significant net cash in its balance sheet. write your comments about the article :: © 2007 Construction News :: home page |