Cash-Rich Rudolph and Sletten Sought Buyer and Found Perini

Korman, Richard
August 2005
ENR: Engineering News-Record;8/22/2005, Vol. 255 Issue 8, p12
Trade Publication
The article reports that Rudolph & Sletten Inc., the California contractor that Perini Corp. says it intends to acquire, is rich in cash and needed to recapitalize so that 10 key stockholders approaching or above 50 years of age could cash out their interests, says the contractor's chief executive, Allen Rudolph. Rudolph & Sletten had planned a year ago to sell itself to Skanska AB, the Swedish construction giant, says Rudolph. That deal was scuttled when Skanska ran into problems and eventually booked losses in its U.S. buildings operations.


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