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Flatirondragados, based on Brofield, recently announced a spinoff of its New York and New Jersey subsidiaries to create a region -focused civilian construction company.
SPC Construction brings together Schiavone Construction, John P. Picone and EE Cruz to establish a company of transport infrastructure and aquatic infrastructure aimed at work in the labyrinth of the New York subway region, bridges, roads and water systems, according to a state -owned construction with construction immersion.
Secaucus, in New Jersey, Schiavone, has long focused on the tunnel, mass traffic and metro, bridges and roads, deep foundations, marine work plants and water treatment, according to the statement. In the meantime, Lawrence, Picone, based in New York, specializes in public works, specifically tunnel, hydraulic works and aquatic infrastructure. Whitestone, EE Cruz, based in New York, rounds the trio with basic abilities in resilience protection, deep foundations and geotechnical projects, according to launch.
“The synergies between these three organizations allow a simplified structure that guarantees a coherent approach to operations, customer success and risk management by SPC construction,” said Javier Sevilla, CEO of Flatirondragados, in the statement.
The news comes less than a year after The combination that Flatirondragados created In itself, when the parents based in Europe, Hochtiif and ACS Group announced that they were rolting up by companies to create an infrastructure jugglers based in North America. The company is made up of FlatIRON, Dragados USA and Dragados Canada, with operations in 24 North state -Americans and eight Canadian provinces.
SPC Construction will be directed by the CEO Jesus Diez, who has served as Executive Vice President, Affiliates, at Dragados USA. The President of the EE Cruz, Joe Sheehan, will take on the role of operational director. Neil Wegman, President of John P. Picone and CFO, will be the CFO of SPC.
The agreement, the financial terms of which did not spread, are oriented to the end of the second quarter, According to a separate release from Hochtief. The issue of redundancy or layoffs due to the combination was not addressed to launch.
Seville said that “integration will lead to economies of scale and that it is a accumulated value for Flatirondragados shareholders.”
