Search
 

Engineering Firm to Divest Itself of Technology Subsidiary

KANSAS CITY, MO-Black & Veatch announces a corporate restructuring, including a change of strategy that involves divesting a subsidiary.

By Judie Burkhalter | Updated on December 18, 2000

KANSAS CITY, MO-Black & Veatch, a Kansas City-based engineering firm with contracts worldwide, has announced a corporate restructuring that includes introducing a plan to focus on asset management and consulting and the divesture of the BV Solutions Group, a technology subsidiary. The plan, which takes effect Jan. 1, 2001, establishes market-based operating divisions within three business sectors: Energy, Water and Information. Previously, the company’s activities were organized under four business units: Power, Infrastructure, Electrical & Telecommunications and Process.

The company is also creating a new corporate center, which includes a finance division, a legal division and a newly created administrative division. All of the division heads will report directly to Len C. Rodman, chairman, president and CEO. “The creation of market-based operating units will highlight the profit performances of our various business activitites and will allow us to more effectively focus on the growth opportunities in our key markets,” Rodman says. “At the same time, through the establishment of the corporate center will be able to better manage our cost structure and achieve efficiencies across all divisions.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.