Perini acquisition strengthens foothold in east US

The deal will see Perini gain a stronger foothold in the Mid-Atlantic region of the US east coast, and contribute fiscal 2008 revenues of approximately $425 million.Keating Building will operate as a wholly owned subsidiary of Perini Corporation and will continue to be managed by its current senior management team.“This is a defining step for our company and our market,” said Keating Building chief executive Daniel Keating.“Backed by the broad resources of Perini, we are in position to be a true east coast construction powerhouse, combining the two organisations’ best-in-class building processes, broad geographic reach and strong industry relationships.”Based in Philadelphia and covering the major construction markets of the northeast and Mid-Atlantic states, Keating Building was founded in 1976. “We are very pleased to announce this transaction, which expands our building construction market presence in the Eastern half of the United States, including the important northeast and Mid-Atlantic regions,” said Perini chairman Ronald Tutor.

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