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AECOM Buys Earth Tech

By ReNew Canada 07:10AM February 15, 2008

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AECOM Technology Corporation has signed a definitive agreement to acquire Earth Tech, Inc., a business unit of Tyco International Ltd. The all-cash $510-million transaction will combine two world-class professional technical services companies – significantly strengthening AECOM in its key end markets.

“We expect that this transaction will generate shareholder returns above our cost of capital,” said John M. Dionisio, AECOM president and chief executive officer. “By adding Earth Tech to AECOM, we immediately strengthen our position in our core water and wastewater markets. We also bolster our environmental, facilities, and transportation businesses, while further expanding AECOM’s global footprint, particularly in the Americas, U.K./Europe, and Australia/Asia.”

“Externally, this merger strengthens our ability to win mega infrastructure assignments, environmentally smart projects and outsourcing by federal agencies,” Dionisio added. “Internally, Earth Tech’s addition to AECOM provides tremendous benefits to employees of both firms — opportunities for professional growth and development, and greater opportunities for people to work on important projects.”

Alan P. Krusi, Earth Tech president and chief executive officer, said, “This is an exciting time for Earth Tech, our employees and our clients. We are combining two leading companies with outstanding reputations in the global infrastructure market.”

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