On-site remediation shakes out
Consolidation in several segments of the environmental services industry is being driven by continued sluggishness. Process engineering and construction company Fluor Daniel (Irvine, CA) has reached a definitive agreement to acquire a controlling interest in environmental remediation firm Groundwater Technology Inc.. Fluor Daniel will combine its environmental services unit with GTI. Fluor Daniel/GTI will be headquartered in Norwood and remain a publicly traded entity. The transaction is subject to approval by GTI`s shareholders and other customer conditions and is expected to be completed in the next few months. Fluor Daniel/GTI will operate as a subsidiary of Fluor Daniel and will become one of the world`s largest on-site remediation companies. David Myers, president of Fluor Daniel`s environmental services unit, will become chairman, while Walter C. Barber, chairman and CEO of GTI, will continue as the company`s president and CEO. Certain Fluor Daniel environmental business components, specifically the Department of Energy management and operations business, will not be included in the transaction and will operate separately.
- OSTI ID:
- 508300
- Journal Information:
- Chemical Week, Vol. 158, Issue 1; Other Information: PBD: 3 Jan 1996
- Country of Publication:
- United States
- Language:
- English
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