RMJM confirmed as YRM's new owner

www.stonexp.com  2012-01-06 08:44:12  Popularity Index:0  Source:Internet

RMJM has been confirmed as the new owner of troubled airport and nuclear specialist YRM.

The move ends over 65 years of independence for a firm that was the first architecture practice to have its shares traded on the London Stock Exchange when it listed in the late 1980s.

YRM chief executive John Clemow revealed that it had approached the Edinburgh-based practice about a takeover after the firm racked up a series of losses following its decision to close offices in Vienna and Bucharest in 2010.

RMJM said its new acquisition was a leader in aviation, nuclear and technology projects. Chief executive Peter Morrison said: “YRM’s position in energy and technology-related projects and our combined experience across a wide range of sectors significantly strengthens RMJM’s offer in the global marketplace.”

BD understands that just six of YRM’s 25 staff will move across to their new employer, including Clemow as well as director Iain McDonald.