Turner Construction Company Establishes Partnership With Clark Builders
NEW YORK, Nov. 9, 2011 /PRNewswire/ — Turner Construction Company and Clark Builders have established a partnership that will increase the capacity of each company to provide construction services to clients in the Canadian marketplace.
Clark Builders now has access to additional financial and management resources that will provide a platform for expanding its services. The partnership provides Turner with a 51% stake in Edmonton-based Clark which augments Turner’s current operations in Toronto and Vancouver, Canada.
Established in 1974, Clark Builders is owned by employees of the company, who continue to hold 49 percent of its shares. Clark specializes in the construction of institutional, commercial, industrial, recreational, and multi-unit residential facilities. With a workforce of more than 700, Clark Builders generated annual sales of CAD 492 million in 2010.
“Turner and Clark Builders have a common culture that focuses on safety, integrity, client service and staff development. In addition, Turner’s strategy to expand its operations in Canada and Clark Builders’ plans to expand its share of the Canadian market, make this partnership a very good fit,” said Peter Davoren, President and CEO of Turner Construction Company. “This partnership allows us both to achieve our goals faster than we could independently. Together, the services offered by Clark and Turner will be a powerful combination for our companies clients and partners in Canada.”
“We approached Turner for this partnership because of our very similar culture and our shared interest with serving local markets,” said Paul Verhesen, President and CEO of Clark Builders. “Maintaining the Clark brand, its culture and the ability to continue to make business decisions locally while increasing our project capacity were the most important factors in our decision to partner with Turner. We are still Clark Builders, the only difference you’ll notice is our name on more sites and larger projects in more Canadian markets.”
About Turner Construction Company
Turner is the leading general builder in the U.S., ranking first or second in the major segments of the building construction field. Turner annually completes $8 billion of construction. Founded in 1902, the firm is a subsidiary of HOCHTIEF, a publicly traded company and one of the world’s leading international construction service providers. For more information, visit www.turnerconstruction.com.
About Clark Builders
Founded in 1974, Clark Builders provides general contracting, design/build, and construction management services across western and northern Canada. With more than 700 employees Clark Builders completes in excess of $500M a year in commercial, industrial, institutional, and multi-unit residential construction in Alberta, Saskatchewan and northern Canada. Clark is, and will continue to be, employee owned and is proud to have been named one of Canada’s 50 Best Managed Companies and Canada’s 50 Best Employers. For more information, visit www.clarkbuilders.com.
HOCHTIEF is one of the leading international providers of construction-related services. With more than 70,000 employees and a sales volume of EUR 20.16 billion in FY 2010, the company is represented in all the world’s major markets. The Group’s service offering in the fields of development, construction, services, concessions and operation covers the entire life cycle of infrastructure projects, real estate and facilities. In the USA, the biggest construction market in the world, HOCHTIEF is the No. 1 general builder via its subsidiary Turner and, with Group company Flatiron, ranks among the most important players in the field of transportation infrastructure construction. With its subsidiary Leighton (HOCHTIEF share around 53 percent), the Group is market leader in Australia. Because of its engagement for sustainability, HOCHTIEF has been listed in the Dow Jones Sustainability Indexes since 2006. Further information is available at www.hochtief.com/press.
SOURCE Turner Construction Company