URS Corporation EG G Technology
ABSTRACT The URS Corporation provides a comprehensive range of professional planning, design, program and construction management, as well as operations and maintenance services. URS ranks as the worlds leading engineering design firm. ... The URS business strategy is to provide a broad range of design and design-related services in the construction industry complemented by a robust engineering and technical support services capability that will support Department of Defense and Homeland Security requirements. URS’ demonstrated expertise across the company’s spectrum of engineering design services has enabled URS to establish and maintain a construction services presence at the local, state, federal, and international level. URS is applying this same approach to the company’s entry into the defense industry. ... To meet this goal, URS management has established specific objectives related to acquisition, profitability, shareholder wealth conservation, and risk mitigation. URS management continues an aggressive growth strategy that began in 1995. URS expects to realize increased revenue and profit while establishing alternative sources of revenue and potential avoidance of serious financial downturns associated with any one industry or sector weakening by diversifying into new industries and sectors. The 2002 acquisition of EG&G Technical Services is indicative of managements continuation of the growth and diversification strategy. Current URS corporate strategy is to seek acquisition and investment in construction and defense industry firms that exhibit technical competency and possess quality service reputations. ... URS managers from the CEO to the program/project management level are specifically tasked with understanding and supporting the corporate mission, objectives, and strategy. URS CORPORATION/EG&G TECHNICAL SERVICES Description of URS Corporation/EG&G Technical Services The United Research Services (URS) Corporation, incorporated in 1951, provides a comprehensive range of professional planning, design, program and construction management, as well as operations and maintenance services. With more than 300 offices in over 20 countries, URS is the worlds leading engineering design firm. URS provides planning, design, program and construction management, and operations and maintenance services to local, state, and federal governments, as well as to private and international clients in the chemical, pharmaceutical, manufacturing, forest product, energy, oil, gas, mining, healthcare, water supply, retail and commercial development, telecommunication and utility industries. In addition, URS ranks among the top designers for the transportation industry (air and surface transportation, mass transit, and rail) and provides a broad range of engineering and architectural services to several other industrial sectors throughout the United States and on an international basis. Despite this international presence, more than 90% of URS sales are generated in North America. In August 2002, URS acquired Carlyle-EG&G Holdings Corp. ... (collectively, EG&G). EG&G provides management and operations and maintenance capabilities in support of large military installations and operations. EG&G is a leading provider of technical operations, maintenance services, and support services related to the U. ... EG&Gs services include the management of complex government installations and ranges, including oversight of all construction, testing and operation of base systems and processes, operation and maintenance of chemical agent disposal systems, management of base logistics and transportation and support of high-security environments. EG&G was founded by Harold E. ... Fifty years ago, EG&G focused almost exclusively on weapons system design and analysis. Today, EG&G is a highly diversified company with over a half billion dollars in revenue and more than 4,200 employees specializing in technology goods and services for a wide array of customers. ... Mission/vision The URS Corporation does not currently have a specific mission statement or stated strategic vision. URS does present itself as, “One of the world’s leading engineering services firms whose professional staff of planners, engineers, architects, scientists, program and construction managers, and operations and maintenance specialists work together to develop innovative and cost effective solutions to the challenges facing government and industry.” Furthermore, URS CEO Martin Koffel, does have a personal vision of the construction industry future. ... and 20 overseas and then a very large number of firms the size that URS Greiner-Woodward-Clyde used to be.” Goals and Strategy In 1992 URS was a relatively small engineering entity with revenue just over $137 million and approximately 1000 employees. From incorporation through the mid-1980’s URS executives focused the company’s business strategy on maintaining the core client base while slowing exploring expansion into more diverse and global construction support services. ... By 1997, URS total year revenue had grown to over $406 million. As a result of the company’s aggressive growth and acquisition strategy, URS revenue in 2001 had increased to over $2. ... Perhaps URS’ most aggressive purchase was the 1999 acquisition of the Dames & Moore Group Inc. Dames & Moore was long recognized as an industry leader and at the time of acquisition was not only larger than URS, but was in the process of implementing their own acquisition growth plan. URS current strategy of pursuing growth through acquisition is now being employed to expand the company’s efforts into the areas of defense and homeland security. Within the construction industry, URS provides services in eight markets: surface transportation, air transportation, railroads and mass transit, industrial process and petrochemical refinement, general building and facilities, water/wastewater treatment, hazardous waste management, and military platform support. ... The EG&G acquisition expanded URS’s federal client base and significantly increased Department of Defense (DoD) related contractor support efforts. EG&G Technical Services a distinct remains as a stand-alone division with the URS corporate hierarchy. One of URS’ short-term objectives is to efficiently integrate EG&G capabilities into the overall corporate structure and concurrently eliminate redundancies and reduce inefficiencies. The current URS business strategy and associated mission is to provide a technically superior and quite diverse array of design and design-related services in the construction and defense industries. ... URS’ demonstrated expertise across the company’s spectrum of engineering design services has enabled the firm to establish and maintain a construction support service presence at the local, state, federal, and international level. URS is applying this same approach to the company’s entry into the defense industry. This tactic enables URS to pursue a robust expansion strategy while concurrently offering the company some risk mitigation support should the construction industry business environment remain soft. ... Companies such as URS and Bechtel compete against each other in the mainland United States to acquire federal, state, and local projects.