PDCA has learned an agreement is in place for Kiewit to acquire Weeks Marine, both longtime PDCA Contractor Members, in a deal expected to close at the end of the year.
In an internal memo issued to employees of Kiewit, the Omaha, NE-based construction and infrastructure giant, CEO Rick Lanoha delivered the following statement:
"There's a long history between our two companies, including extensive work together through joint ventures and subcontractor agreements on infrastructure and energy projects. That longstanding relationship, not to mention Weeks' shared commitment to safety, strong financial and operational track record, and comparable culture and talented workforce, makes us confident this is an acquisition worth pursuing. Weeks offers valued, specialized construction experience in areas where we see great opportunity."
As previously reported, the Cranford, NJ-based Weeks Marine leadership circulated the news among its employees. Rich Weeks and Dick Weeks issued the following memo to the team at the 100-year old company bearing their family name:
"Weeks Marine Board of Directors approved an agreement to join the Kiewit Corporation as a wholly-owned subsidiary. Weeks has been a family-owned business for five generations and joining with Kiewit is in the long-term best interest of our employees and clients. This is an exciting opportunity for all of us.
We have a long history with Kiewit and their culture, values, and dedication to employees is a great fit with Weeks. Kiewit is an extremely successful construction engineering firm operating in the civil, energy, and building sectors throughout the United States and Canada. Our expertise and market position are an excellent addition to their capabilities. Weeks will retain its name and management going forward.
The targeted closing date is January 1, 2023. We would request your patience and cooperation as we work out the details of this combination. It is important to know that we will be operating as business as usual during this time and into 2023.
Please direct any questions or inquiries to Communications and refrain from speaking to the media. We are excited about this next phase of growth and development and believe that a partnership with Kiewit will allow Weeks Marine and its employees to continue to grow and prosper. Thank you for your continued support and hard work."PDCA wishes the best to the two Contractor Member companies as this strategic acquisition nears completion.