Oscar Faber becomes Faber Maunsell as it joins forces with US giant to attack international markets.
Aecom Technology Corporation and Oscar Faber have reached agreement on a recommended offer by Aecom to acquire the entire issued share capital of Oscar Faber plc.

Under the deal, Oscar Faber will merge with one of Aecom's existing UK businesses, Maunsell. The new company will be known as Faber Maunsell. Aecom's other UK business Metcalf & Eddy will retain its name.

  Faber Maunsell's main divisions will be building engineering, transportation planning, transportation infrastructure and international.

Ken Dalton, currently chief executive of Oscar Faber, has been appointed chief executive of Aecom UK, Faber Maunsell and Metcalf & Eddy.

Richard Newman, chairman and chief executive of Aecom, believes the takeover is good for growth: "For a long time both companies have had a key strategic objective of expansion, to create growth opportunities for our people, both professionally and financially. Our combination with Oscar Faber will provide Aecom with the foundation to be a leader in Europe, which will continue to be our priority for expansion."

The last six years have seen the turnover of Oscar Faber double, from £26 million in 1995 to £53 million in 2001, resulting in the company becoming a major force in UK building engineering.

Ken Dalton explains the company's decision to merge: "We have been considering the best way to move the company forward with the momentum built-up over the last six years in an environment of increasing globalisation. We believe joining the Aecom Group is a positive development for our business, that will meet the company's growth strategy in transportation, infrastructure and waste water in Europe.

Aecom currently has eight operating companies around the world. In the UK it owns transportation infrastructure company Maunsell, and water and wastewater management company Metcalf & Eddy.