Perini Corporation (NYSE: PCR) is one of the largest general contractors in the United
States. At the end of 2004 its revenue was almost $2 billion. Perini is headquartered
in Framingham, Massachusetts and as a consequence bids on many heavy
construction projects in Massachusetts. Its satellite offices on the West Coast
are heavily involved in construction for the gaming and hospitality industries.
Perini
was founded in 1894 by an Italian-American stonemason named
Bonfiglio Perini. Under the direction of Bonfiglio's grandson, Louis Perini,
the company moved into the real-estate business, developing 4,500 acres (18 km²)
in Palm Beach County, Florida. Later real-estate ventures were less successful,
leaving the company deeply in debt by the mid-1990s. In 1997, Perini recapitalized,
passing control to a California-based investor group led by Los Angeles-based
construction executive Ron Tutor and investor Richard Blum.
Perini
was listed on the NYSE on April 1, 2004. Later that year it acquired Cherry
Hill Construction, a contractor in Maryland, and in 2005 it acquired Florida
based James A. Cummings and California based Rudolph & Sletten, Inc.. |
