ABILENE, TEXAS, April 7, 2003 - Lauren Engineers & Constructors, Inc. have announced a merger that creates LaurenKamtech, Inc, a large and diversified international EPC contractor.
The acquisition of Kamtech by Lauren in June 2002 joined two leading contractors to create a US-based, international enterprise that provides EPC services to the power generation, pulp and paper, chemical process, environmental, fiber, materials handling, and refining industries. Annual consolidated revenues of the new company are expected to top $375 million in 2003.
LaurenKamtech will be stronger in several key respects:
* Enhanced organizational capability: Capabilities of the new company will be strengthened by the combination of staff from Lauren and Kamtech who bring diverse skills, talent, and hands-on experience to compete in increasingly competitive industries. LaurenKamtech profits from proven leadership and a track record of success in executing key EPC management solutions for targeted industries.
* Strength and scale in key markets: LaurenKamtech's combined experience and size will further enhance the company's ability to obtain larger projects, establishing LaurenKamtech as a major player in the marketplace with increased capabilities.
* Leadership position in power generation: LaurenKamtech's staff brings 48 years of experience working with power generation clients. Facilities include combustion turbines, combined cycle units, and coal-, gas-, and oil-fired plants.
* Broad construction management portfolio: The new company's specialized expertise will also have a broader portfolio in quality, craft labor, project management, and fabrication services.
LaurenKamtech is headquartered in Abilene, Texas and has offices in Atlanta, Georgia, Houston, Texas, Knoxville, Tennessee, Glens Falls, New York, and Canada. Parent company, Lauren Engineers & Constructors, Inc., a fully integrated design/build company, is also based in Abilene. Lauren is dedicated to safely delivering planning, engineering, construction, and fabrication products and services that are innovative, efficient and environmentally compatible to valuable customers throughout North America. For more information about LaurenKamtech, visit www.laurenkamtech.com.
