Expansion west

US: Perini Corporation of Massachusetts, US has signed a letter of intention to acquire Rudolph and Sletten a privately owned construction and construction management company based in Redwood City, California. The company employs 1000 people and has annual sales of US$ 700 million. It is active in the major Californian markets of Los Angeles, Silicon Valley, San Francisco and Sacramento. Under the terms of the deal, which is subject to due diligence, Perini will acquire the company for US$ 50 million in cash plus an additional amount to be based on Rudolph and Sletten results for the fiscal year ending in September.