|
Centex Clarifies Sale
Centex Construction is concerned about several points in your recent story, "The Numbers Behind Balfour Beatty's Centex Deal". We feel they need clarification in order to fairly represent our company and the circumstances surrounding our recent acquisition by Balfour Beatty plc.
Your opening, "Centex Corp. had been shopping its commercial construction unit to prospective buyers for some time…" is not accurate. Centex Corp. has stated, and recently confirmed to ENR, that Balfour Beatty made an unsolicited offer for Centex Construction and that our company was not offered to multiple bidders.
The second point is in response to your paragraph that begins, "The word ‘commercial' in this case is a little misleading because a solid portion of Centex's work is military family housing construction …" While we are very proud of the military housing work we do, it comprises 15% of our annual revenue, leaving the remaining 85% comprised of health care, hospitality, office, education and other traditional commercial market segments. In addition, our military housing projects are $100-million to $400-million awards and have the complexity and scope generally associated with commercial construction.Â
The final paragraph, which references the contributions of a former employee in "building up Centex's robust construction business," seems to us to be a non sequitur. Many of our current leaders have been "key figures" in building our business, leaders who remain with the company, which seems much more relevant than an employee who left over four years ago.
|
