|AECOM Acquires CityMark|
Acquisition of Chinese architecture, engineering firm expands AECOM's presence in rapidly growing market
LOS ANGELES--(BUSINESS WIRE)--Nov. 20, 2007--AECOM Technology Corporation (NYSE: ACM), a leading provider of professional technical and management support services for government and commercial clients around the world, has acquired Shenzhen, China-based CityMark Architects and Engineers (CityMark).
The transaction marks an important step in AECOM's strategic expansion into the architectural design and building engineering industries of the People's Republic of China (PRC). In addition, the two parties believe that this is the first time that a non-Chinese company has acquired 100-percent ownership of a Chinese design firm with a Class A architectural and engineering license issued by the country's Ministry of Construction.
Originally established in Shenzhen in 1998, CityMark has gradually evolved into a leading architectural and engineering firm practicing in the PRC with more than 200 professional technical employees. CityMark's practice has a rich and diverse portfolio that stands out among its peers for its ability to fuse design excellence with prime client service. Some of its notable projects include the International Chamber of Commerce Tower, Sheraton Dameisha Resort Hotel and the Galaxy Century Plaza in Shenzhen.
"By drawing on CityMark's expertise and local presence, we expect AECOM will be able to greatly expand its market and service scope in the People's Republic of China and deepen our planning, design and management services across Asia - all of which benefits our current and future clients," said John M. Dionisio, AECOM president and chief executive officer. "The joining of our two companies also presents opportunities to leverage our extremely talented people."
CityMark co-founders Mark Mao and Jin Yiqun will remain president and senior vice president respectively.
"Joining AECOM is an important moment for CityMark," said Mao. "I believe this move gives us a strong professional advantage, further enhances our already strong capabilities and is in the best interests of our clients as well as our employees."
AECOM (NYSE: ACM) is a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental and energy. With more than 31,000 employees around the world, AECOM is a leader in all of the key markets that it serves. AECOM provides a blend of global reach, local knowledge, innovation, and technical excellence in delivering solutions that enhance and sustain the world's built, natural, and social environments. AECOM serves clients in more than 60 countries and had revenue of more than $4 billion for the 12-month period ended June 30, 2007. More information on AECOM and its services can be found at www.aecom.com.
All statements in this press release other than statements of historical fact are "forward-looking statements" for purposes of U.S. federal and state securities laws, including any statements of the plans, strategies and objectives for future operations of AECOM and its subsidiaries in Asia and any statements regarding future economic conditions or performance. Actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause actual results to differ materially from our forward-looking statements are set forth in our quarterly report on Form 10-Q for the fiscal quarter ended June 30, 2007, and our other reports filed with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statement.
CONTACT: AECOM Technology Corporation