CH2M Hill Announces Sale of Alaskan Assets

Author: Catie Quinn |

Last updated on September 10th, 2015 at 07:04 am

CH2M Hill is selling its assets in Alaska and Sakhalin Island, Russia, which provide close to 2,400 jobs. The company declined to comment over the phone, but wrote that they will “explore strategic alternatives”  for their  oil, gas, and chemicals business.

 

U.S. Managing Director Patrick O’Keefe says the company intends to “focus further on developing its differentiated professional service offerings, and not on capital intensive businesses.” That indicates a shirt towards engineering, consulting, and program management services in other industries like: water, the environment, transportation, and “energy on a global basis.”

 

CH2M Hill Energy President Rob Berra said they are carefully considering “win-win” options for their employees and clients in Alaska and believe that the business has “strong future prospects.”

 

The company declined to comment on how the sale would affect Kenai, but the assets along the Kenai Spur Highway would certainly be included in the sale.

 

CH2M Hill has engaged the Bank of America Merril Lynch to explore the alternatives for the sale.

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