Filming Industry News
- U.S. architecture, engineering tycoon acquires Chinese CityMark
Date: 17-Dec-2007 Sources: (Xinhua Online)
SHENZHEN, Dec. 16 (Xinhua) -- World's leading design firm AECOM Technology Corporation has acquired the Shenzhen-based CityMark Architects and Engineers (CityMark), expanding its presence in rapidly growing market in China.
'By drawing on CityMark's expertise and local presence, we expect AECOM will be able to greatly expand its market and service scope in the People's Republic of China and deepen our planning, design and management services across Asia,' said John M. Dionisio, AECOM president and chief executive officer at a new conference.
The acquisition is believed to be the first time that a non-Chinese company has acquired full ownership of a Chinese design firm with a Class A architectural and engineering license issued by the Ministry of Construction.
CityMark co-founders Mark Mao and Jin Yiqun remain president and senior vice president respectively.
'I believe joining in AECOM gives us a strong professional advantage, helping us to deal with the bottleneck on management, human resources and finance,' Mao told the press conference on Sunday.
The two parties of the transaction both declined to tell how much AECOM spent to take over CityMark.
Established in Shenzhen in 1998, CityMark has become a rising star in China's architectural design and building engineering industries with notable projects like the International Chamber of Commerce Tower, Sheraton Dameisha Resort Hotel and the Galaxy Century Plaza in Shenzhen. It now has more than 200 professional technical employees.
With more than 31,000 employees around the world, AECOM has established leadership in transportation, facilities, environment and energy. The company reported an annual revenue of more than 4 billion U.S. dollars this year.
AECOM started business in Hong Kong in the 1970s and it set up its branches on Chinese mainland in Shenzhen, Shanghai, Beijing, Chongqing, Guangzhou and Nanjing.
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