Black & Veatch Reports $1B from Water Business
Growth in Black & Veatch's global business lines resulted in record revenues of $3.2 billion for the company in 2007, an approximate 50 percent increase in revenues for 2007 compared to $2.17 billion in 2006.
The firm's water business encountered record growth in 2007, with $1.2 billion in revenue during the year. The company further solidified its dominant position in the United Kingdom as a single-source provider of engineering design, process engineering, and construction for clients. A major project was completion of the upgraded Wastewater Treatment Works at Weatherlees, Kent as part of the Margate and Broadstairs environmental improvement effort.
In Australia, Black & Veatch is part of the largest recycled water project in the Southern Hemisphere and the third-largest in the world. The project addresses water scarcity in Queensland and is designed to meet population growth and the effects of severe drought in the region.
The company has expanded its presence across Asia Pacific with the creation of a Global Design Centre and Centre of Excellence in Singapore to deploy expertise in desalination that will help further address growing demand for clean and safe drinking water.
To accommodate business growth, total employment grew about 11 percent in 2007 to 9,600 professionals compared with about 8,600 in 2006.
Its business expansion includes energy, water, telecommunications, management consulting, and federal services operations that collectively produced record earnings before taxes of $81 million, an increase of 31 percent over last year. In addition, Black & Veatch entered 2008 with a revenue backlog of approximately $3.7 billion.
"The success we experienced last year is continuing into 2008 as a result of our ability to bring expertise in delivering sustainable infrastructure solutions for our clients," said Len C. Rodman, chairman, president, and chief executive officer of Black & Veatch. "Research tells us that in the next 30 years, the world will need more than $40 trillion of infrastructure to satisfy its power and water needs and we are well positioned to continue delivering solutions to help meet this demand."