URS Corp., the San Francisco-based engineering-construction giant, announced on Dec. 22 it will “rebrand and integrate” its Washington Group and EG&G divisions into the firm. The move comes two years after Washington Group and seven years after EG&G were acquired. The units, which operated as divisions of publicly owned URS, will be discontinued as of Jan. 1 and absorbed into the parent company’s brand. URS will now report financial results for an infrastructure and environment segment, formerly the URS division; a federal services segment, formerly EG&G; and an energy and construction segment, formerly Washington. Chairman Martin Koffel says the changes will give clients and the marketplace “a clearer understanding” of URS services. The company said it will take a $20.5-million non-cash charge in its fourth-quarter results, to be reported next March, related to the write down of “intangible assets,” but that it would not affect earnings.
Washington and EG&G Brands Disappear in URS Move
December 23, 2009