Dravo Corp. Unit Sold to British Firm
PITTSBURGH — Dravo Corp. completed the sale of its Pittsburgh-based engineering subsidiary, Dravo Engineering Companies Inc., to Davy Corp. PLC, a British firm.
The London-based Davy Corp.’s principal U.S. subsidiary, Davy McKee Corp., will actually acquire Dravo Engineering, company officials said.
Davy and Dravo had agreed in principle on the acquisition in August. Terms of the deal were not announced.
Davy McKee has principal engineering offices in Houston; Tulsa, Okla.; Chicago; San Francisco, and Berkeley Heights, N.J., and an existing 250-person Pittsburgh office.
Dravo is based in Pittsburgh and a natural resources firm whose principal operations include construction aggregates and lime.
About 350 Dravo employees will join the Davy organization as a result of the sale, with no staff reductions planned, company officials said.
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