Following months of speculation about its financial stability and some hard-nosed negotiation with sureties and bankers, Cambridge, Mass.-based Modern Continental Construction Co. Inc announced Sept. 23 that it will merge with Jay Cashman Inc., Quincy, Mass., to form a new joint corporate entity effective within the next six months. The news was announced to Modern employees late in the day at a meeting in Medford, Mass.
The new corporate structure, as yet to be determined and named, joins two well-known regional firms that will immediately pursue future jobs in the New York City and New England areas. "The combination of Moderns heavy civil construction and our expertise in marine construction will create a company with unparalleled capabilities across a spectrum of construction specialty areas," says Chairman Jay Cashman in a statement.