Engineering Firm to Divest Itself of Technology Subsidiary

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.”