Spanish firm acquires Webber Group.* Spanish-based Ferrovial has reached an agreement to buy all of the Webber Group, based in Houston. Webber specializes in infrastructure civil engineering, aggregate recycling recycling, the process of recovering and reusing waste products—from household use, manufacturing, agriculture, and business—and thereby reducing their burden on the environment. and extracting and supplying sand in Texas. The acquisition will cost $220 million, and depends on approval by the U.S. antitrust Antitrust The antitrust laws apply to virtually all industries and to every level of business, including manufacturing, transportation, distribution, and marketing. They prohibit a variety of practices that restrain trade. authorities as well as the standard conditions in this type of transaction. Joaquin Ayuso, Ferrovial's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , says that the deal is highly strategic "as it is a continuation of our strategy in international markets and is a new opportunity for growth in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. ." Pedro Buenaventura, general manager of Ferrovial's construction division, says, "Webber specializes in building infrastructure and also has a very stable, high-margin business in the production and distribution of recycled aggregate. It also has a strong track record, a lean structure and a sound balance sheet. Webber has a seasoned management team with a corporate culture focused on cost containment cost containment, n the features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan. and optimal use of materials and equipment." Webber is one of the top three construction companies in Texas and is a leading producer and distributor of recycled aggregate. |
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