|By PR Newswire||
|April 25, 2014 09:00 AM EDT||
ST. LOUIS, April 25, 2014 /PRNewswire/ -- Two construction industry leaders, Millstone Bangert, Inc. and Fred Weber, Inc., based in the St. Louis region, have signed a definitive agreement to merge Millstone Bangert and the construction operations division of Fred Weber. The agreement was driven by an awareness that these two storied companies are stronger together. This agreement will create a new leader in construction services, Millstone Weber, offering a combined 185 years of experience.
As leading civil construction firms with strong records of success, both Millstone Bangert and Fred Weber bring significant resources to the new company - technical and project management know-how, state-of-the-art equipment, and significant foresight about how projects develop based on deep experience. Their combined experience includes large commercial site development, roads, bridges and other infrastructure, as well as airport expansions. Two recent joint projects are standouts. The two firms combined to complete the new I-64 through metropolitan St. Louis, the largest Design-Build project in Missouri history at $535 million; this project opened a full year earlier than expected. The companies also completed together the new $75 million runway at Lambert St. Louis International Airport, a multifaceted project completed months ahead of schedule.
Well-positioned to deliver the most complex projects, showcasing personal and business integrity, trustworthy skill and construction knowledge, this merger of equals will offer clients a strong business partner.
"This truly is a merger of equals; an evolution in the relationship between two great companies," said Douglas Weible, chairman of Fred Weber, Inc. and board member of Millstone Weber. "Previous collaborations between Millstone Bangert and Fred Weber have resulted in great successes for our customers. Merging these firms into Millstone Weber will enable us to efficiently and effectively get the job done for our customers with insights based on the unrivaled strength of our combined experience."
Company leaders noted that the combined company also offers greater strength in a historically uncertain marketplace.
"Leveraging our combined strengths will provide even greater confidence for our customers," said Thom Kuhn, president of Millstone Weber. "No matter the project, no matter its complexity, Millstone Weber will have the depth to make it a success."
The key strategic benefits of the merger include:
- Comprehensive performance: Where other contractors may specialize in one or two aspects of complex, demanding projects, Millstone Weber will have the management prowess, technical expertise, equipment and resources to complete them from start to finish.
- Insight to drive higher quality results: Millstone Weber's ability to leverage vast experience enables its leaders to advise customers on both cost efficiency and project success.
- Tenacity to deliver the job: With reputations for quality, timeliness and tenacity, the merger will further strengthen our client's trust in their strong partnership with Millstone Weber.
Millstone Weber will have a combined revenue of nearly $190 million. Headquartered in St. Charles, Missouri, the company will have more than 500 employees and will operate in multiple states.
Fred Weber, Inc. had been both a civil construction firm and a materials services company. The construction operations division of Fred Weber is now within Millstone Weber. Fred Weber, Inc. will continue to supply the highest quality construction materials for projects from driveways to interstate highways to airports, and continue contract mining operations.
For more information, visit millstoneweber.com.
SOURCE Millstone Weber
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