Raytheon Engineers & Constructors to acquire airport design firm

Business Wire, Dec 26, 1996

LEXINGTON, Mass.--(BUSINESS WIRE)--Dec. 26, 1996--Raytheon Engineers & Constructors announced today that it has reached an agreement to acquire assets of Isbill Associates, Inc., an airport design firm based in Denver, Colo. Terms of the transaction, which is expected to close in January, were not disclosed.

Isbill Associates provides engineering, design, and planning services for airports of all sizes. It has more than 30 years of experience working with the Federal Aviation Administration and has performed work for such customers as Denver's Stapleton Airport, the Denver International Airport, the Indianapolis Airport, St. Louis's Lambert Field, and regional airports throughout the Rocky Mountain region. It is a privately-held firm with 40 employees.

"Isbill has an excellent reputation within the aviation industry," said Bob Iotti, vice president of Raytheon Engineers & Constructors' Infrastructure Group, which includes a unit called Raytheon Airport Services. "It has an extensive resume of airport design work for small, medium, and large airfields in the U.S. We found Isbill to be the best in its field."

According to Iotti, Isbill augments Raytheon's existing capabilities in airport design and construction and will help Raytheon further penetrate this market, both in the U.S. and abroad.

"Isbill brings to Raytheon a backlog of work in the U.S.," said Iotti. "Plus, we'll take Isbill's expertise into the international marketplace as a new tool on turnkey airport projects. One example is the proposed new airport for Bangalore, India. We are part of a consortium selected to build, own, and operate this airport, which will be the world's first new international airport that's fully privatized."

Raytheon Engineers & Constructors is one of the largest engineering, construction, and operations and maintenance firms in the world. It is one of the four business segments of Raytheon Company, a $12 billion international high technology company that is also active in the commercial and defense electronics, aviation, and major appliances markets.

CONTACT: Raytheon

Ed Powers (617) 860-2415