In explaining his decision to sell his company, Tishman Construction, to AECOM Technology Corp., Daniel R. Tishman notes that the company lacked the very deep financial resources needed to establish new overseas offices and maintain itself as a major market player. “It’s a very expensive proposition to open an office in the Middle East,” he said onJuly 19 in New York City. Photo: Luke Abaffy for ENR Daniel Tishman moves engineer AECOM further into construction services. And with those words, the respected leader of one of construction’s most famous family-owned companies summed up why AECOM and its competitor, URS Corp.,
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.