Kiewit finalizes TIC merger |

Kiewit finalizes TIC merger

Construction giants complete deal Monday

The Associated Press

— Kiewit Corp. of Omaha, Neb., finalized its merger with TIC Holdings on Monday.

The two employee-owned construction giants did not disclose terms of the deal, but Kiewit said the companies generated a total of more than $9 billion in revenue in 2008.

When the merger became public in September, the companies said no major changes were planned, and TIC official Gary Bennett said TIC would operate as a wholly owned subsidiary of Kiewit. Bennett said earlier this month that nothing has changed since that report.

Kiewit spokesman Kent Grisham said TIC will benefit from Kiewit’s financial strength, and Kiewit will gain TIC’s expertise in certain industrial markets such as utilities.

Grisham said the two companies will examine each others’ best practices and decide what to keep. Kiewit and TIC have worked together on projects in the past.

TIC employs about 200 people in Steamboat and 8,000 nationwide, Bennett said. TIC, a heavy industrial contractor, started in Steamboat in the mid-1970s.

Kiewit has offices across the United States and in Canada, including the Denver area and Rifle.

Kiewit offers services in areas including transportation, buildings, water and power, telecommunications, oil and gas facilities, mining and offshore facilities. The company’s work force includes about 6,000 salaried and hourly staff and more than 16,000 craft workers.

Bennett said in September that Steamboat residents should not be nervous about the deal.

“For most, if not all, Steamboat people, including most of our employees, if the merger closes, most people will see virtually no change,” Bennett said at the time.

Support Local Journalism

Support Local Journalism

Readers around Steamboat and Routt County make the Steamboat Pilot & Today’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.