Corrections or additions?
These articles by Barbara Fox were prepared for the July 10, 2002
edition of U.S. 1 Newspaper. All rights reserved.
Construction Managers Merge
Faithful & Gould, a construction auditing firm with
its East Coast office at Canal Pointe, has acquired Hanscomb Inc.,
which has an office on Nassau Street. Faithful & Gould’s parent
Atkins, is traded on the London stock exchange and Hanscomb is
held. The purchase price was $28,750,000, one-third in cash and the
rest in newly issued shares. Atkins Hanscomb Faithful & Gould will
be the new name.
Firms that do construction auditing act as middlemen between the owner
and the contractor. About 15 people work in the Canal Pointe office,
but three dozen more are in the field. Hanscomb comes to the merger
with seven Princeton employees, who will move to join Faithful & Gould
at Canal Pointe, but in this region it has 80 employees.
"We provide a service that embraces several different
says Chris J. Taylor, chief operations officer of Faithful & Gould.
"We have individuals knowledgeable across the broad sphere of
commercial management. We promote ourselves on the basis that the
cost savings will more than likely pay for our services due to reduced
construction costs, adherence to schedule improvement, and improved
Atkins is anxious to expand and having Hanscomb here offers an
to take advantage of the North American market. The acquisition will
raise the combined firm’s coverage to 19 U.S. cities. Hanscomb opened
its headquarters in Atlanta some 30 years ago. It is ranked as the
17th largest construction management firm in the world, and has more
than 20 offices.
With net assets last year of $6.4 million and a net profit of $4.1
million, Hanscomb provides services to the automotive, aviation,
and other sectors. Two-thirds of its 375 workers are in the United
States, but it also provides services in the United Kingdom and
including Germany and Russia.
Andrew G. Kapp, Hanscomb’s regional vice president, went to Holy
graduating in 1984, and has been a project manager for over 12 years.
Founded in 1947, Faithful & Gould has 120 workers in North America
and 1,600 worldwide. Chris Taylor came to Minneapolis in 1993 to help
Faithful & Gould fulfill a contract for Pillsbury, then a British
company. One of his clients in the Princeton office is Merck (U.S.
1, December 6, 2000).
The combined firms will have 1,800 employees worldwide.
212, Princeton 08540. Chris J. Taylor, chief operations officer.
fax, 609-514-9888. E-mail: firstname.lastname@example.org. Home page:
Princeton 08542. Andrew G. Kapp, regional vice president.
fax, 609-683-0378. Www.hanscombglobal.com
08691. Joseph Mo, chairman, CEO, and president. 609-208-9688; fax,
609-208-1868. Home page: www.nexmed.com
The medical technology firm raised $6 million in a private placement
of securities equity to institutional and individual investors that
include Capital Research and Management and an unnamed mutual fund.
08534. Quentin T. Kelly, CEO. 609-818-0700; fax, 609-818-0720.
Soon villagers in Third World countries will be able to buy clean
water using a debit card. Worldwater Corp.’s new smart card and water
metering systems are going first to the Philippines.
"The process enables small communities to borrow funds from banks
for clean water utility service for the people," says Anand
World Water’s executive vice president. "These cards actually
mean the development of a new economy for rural areas."
Under this system, residents can put up to 1,000 liters of clean
water, at a reasonable price, onto the smart card. They insert the
card into an AquaMeter, which delivers water from the adjacent solar
pump. Cards can be recharged at the local bank. Under this system
communities will be able to recover their costs of supplying
equipment. What WorldWater gets is 10 percent net of the card’s gross
for the next 10 years.
Roger A. Emmons 58, on July 7. He was the former chief of police
for Ewing Township.
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