Parsons Brinckerhoff

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Parsons Brinckerhoff
Type Private
Founded 1885
Founder William Barclay Parsons
Headquarters One Penn Plaza New York, Flag of the United States
No. of locations London, Hong Kong, Sydney
Area served International
Key people James L. Lammie (Chairman)
Keith J. Hawksworth (CEO)
Richard A. Schrader (CFO)
Industry Civil engineering, Planning
Products Project Management
Consulting
Revenue ▲$1.4 billion (2005)
Operating income $45.9 million (2005)
Net income $27.2 million (2005)
Employees 9000
Subsidiaries Parsons Brinckerhoff Quade & Douglas, Inc.
Parsons Brinckerhoff Construction Services, Inc.
PB Facilities, Inc.
PB Asia
PB Transit & Rail Systems
PB Power
PB Air
PB Water
Website www.pbworld.com

Parsons Brinckerhoff (PB) is a planning, engineering, program and construction management organization. The company has been involved in planning and designing some of the world's largest public works projects, such as Boston's Big Dig, Britain's rail system Network Rail; the Sabiya power plant in Kuwait, Cairo's Metro and the Deep Tunnel Sewerage System in Singapore. Its Chairman is James L. Lammie and Chief Executive Officer is Keith J. Hawksworth.

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[edit] Company history

The company was started by General William Barclay Parsons, who opened an office in Manhattan in 1885, where the company headquarters are still located. Parsons was known as an ambitious and exceptional engineer. The first undertaking of his new company was the design of New York City's first subway, the IRT. Completed in 1904, this line—extending from lower Manhattan to Harlem—remains the world's most heavily used rapid transit system. Parson's second major project was to design a 1,000-mile railroad in China, from Hankow to Canton, a line that is still in use today. In 1906, Henry M. Brinckerhoff — a pioneering highway engineer—brought his expertise in electric railways to the firm. When work began in 1996 on the 2,400-megawatt Sabiya power plant in Kuwait Merz & McLellan was responsible for design, project management, and site supervision. PBQD was in charge of project management services for the H-3 highway, the largest construction project in Hawaii history, completed in 1997. That year it won a contract, with CH2M Hill Ltd., for the planning, design, construction, and project management of a $6 billion deep-tunnel sewage collection, treatment, and disposal system in Singapore. PBQD was the prime engineering consultant for the construction of Pearl Harbor Naval Station's Ford Island Bridge, which opened in 1998. It was managing the construction of Cairo's subway, which began in 1986 and was scheduled for completion in 2003.

Four acquisitions were made during 1998, including Booker Associates Inc., a St. Louis-based engineering and architectural firm, and Kennedy & Donkin Group, a British engineering firm. In addition to the aforementioned undertakings, the projects in which PB was taking part at this time included London's $1.4 billion Heathrow Airport Terminal 5; Saudi Arabia's $1.2 billion Ghazlan II Power Station; and Brazil's $500 million Castello-Raposo, Lot 12 toll road.

PB's main job in the 1990s was its work with Bechtel Group as project manager for Boston's Central Artery/Third Harbor Tunnel project, the largest civil engineering project in U.S. history. Authorized in 1987 as a mile-long portion of Interstate 93 that would run through downtown Boston underground, it was also intended to link the Massachusetts Turnpike to Logan Airport by means of a third tunnel through Boston's inner harbor. In 2005, the company worked on the Fulton Street Transit Center project, which includes constructing a new transit hub incorporating six subway stations and connecting 12 operating subway lines in Lower Manhattan. In 2006, PB won the management contract for Palm Jumeirah's infrastructure, which includes providing management to Nakheel, a Dubai developer, for construction of infrastructure, including roads, bridges, marine structures, utilities, power, water and wastewater facilities, and vehicular and utility tunnels between the Palm Jumeirah and the Crescent.[1]

[edit] Organization

PB now provides comprehensive services for all types of infrastructure projects including power, buildings, environment and telecommunications. It has offices in nearly 80 countries around the world. In 2006, PB underwent a corporate restructuring that consolidated PB's six operating companies into three. The three operating divisions are the Americas (North and South America), International (Europe, Africa, Middle East, Asia, Australia), and Facilities (facility operation and maintenance along with U.S. Federal Government contracting).

[edit] Company Financial

PB's revenues reached a record $698 million in fiscal 1998. Net income came to nearly $9 million, and the company enjoyed its 23rd consecutive year of increased value per share of stock. PB posted total revenues of $1.4 billion in fiscal year 2005 (FY05), up 4.2% from FY04, and net income of $27.2 million.[2]

[edit] Family of firms under Parsons Brinckerhoff Inc Holding

  • PB Placemaking
  • Parsons Brinckerhoff Ltd
  • PB Associates
  • Company39.com [1]

[edit] See also

[edit] External links


[edit] References

  1. ^ Peter Reina Palm Shaped Islands Symbolize Dubai's New Wealth 2006
  2. ^ PB Annual Report 2005