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Parsons Forms Global Business Unit

September 17, 1997|Business Wire

Parsons Corp., one of the world's largest full-service engineering and construction firms, said it has merged its worldwide process and power resources into a new global business unit. It said the new unit, Parsons Energy & Chemicals Group Inc., will enable it to better respond to new trends in the energy industry. "One of these trends is the blurring of the lines of demarcation [among] the process, chemical and power markets," said James F. McNulty, president and chief executive of Pasadena-based Parsons. Now combined into one unit are the existing Parsons Process Group, which provides services in oil and gas production, processing and transport, refining, and chemicals and petrochemicals; and the former Parsons Power Group, which provides services in fossil, nuclear and hydropower generation; transmission and distribution; and plant operation and maintenance. The new 4,000-person Energy & Chemicals Group's global headquarters will be in Houston.

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