Halcrow was a 'good buy'

摘要

The boss of CH2M Hill has defended the firm's decision to pay £124m for Halcrow despite its financial woes. Last week, it emerged that engineer Halcrow was £71m in the red in the year it was bought by US giant CH2M Hill. Accounts filed at Companies House, six months late, showed the firm had net liabilities of £177m in the year to 31 December 2011 down from net assets of £25m the previous year, driven by a mounting pension liability of£180m.