Dick says that the Hawaiian market now is coming around. But we began to see that underneath the layer of large transactional businesses, there's a lot of business done domestically that is reimbursable. That part of the power business makes sense for Jacobs, he says. Not everyone is in full acquisition mode. But IT has not abandoned the acquisITion trail.
Some contractors see a competitive advantage in some of the acquisitions of competitors.
One of the most talked-about developments among general building contractors is the recent acquisition of Turner Corp. by German contractor Hochtief and of Bovis by Australian developer and contractor Lend Lease. It's hard to keep a client if you keep introducing them to new people. Some are speculating that the acquired firms may change their marketing plans. Robert E. Fee, president and CEO of Turner Construction Co., dismisses this argument. Fee says the acquisition will help Turner with Hochtief's long-time German clients.