Following announcements in early February 2014 that the fiscal year 2013 earnings and income were below expectations, URS made some management changes. URS had received Flint Energy Services for $1. 25 billion in February 2012, creating an oil and gas division for the manufacturer. Issues in the oil and gas department were cited for the poor economic functionality in fiscal year 2013 and URS announced the resignation of senior staff from that department.
By the tip of February 2014, the hedge fund Jana Partners disclosed that they had got an activist investor possession function in the publicly traded brand, asserting an intent to engage the corporate control on board and company structure and to create shareholder value. URS obtained the Denver, Colorado based civil, geotechnical and environmental engineering firm Woodward Clyde Group in 1997 for $100 Million, bringing extra environmental functions and a broader international presence to the association. When Dames and Moore Group joined in 1999 which had these days absorbed the Australian firm Hardcastle and Richards, URS further strengthened its software and construction management experience and added to its FORTUNE 500 client base. In February 1999, URS also bought delivery advisor Thorburn Colquhoun. In November 2008, the National Transportation Safety Board determined the possibly reason behind the fall apart of the I 35W bridge was “inadequate load capability, due to a design error by Sverdrup and Parcel and Associates, Inc.
, of the gusset plates at the U10 nodes, which failed under a mix of 1 massive increases in the weight of the bridge, which resulted from preceding changes, and 2 the traffic and concentrated development loads on the bridge on the day of the accident. ” URS was not concerned in the work being conducted on the bridge at the time of the collapse or in the design of the bridge. The Martin Olav Sabo Bridge over Hiawatha Avenue in Minneapolis skilled failure of two of its longest support cables on February 20, 2012. URS Corporation was the design consultant for the bridge that was accomplished in 2007. These failures led to closures of Hiawatha Avenue and the adjoining light rail among Mall of America and downtown Minneapolis for safety precautions while help buildings were put in place. Rail service was restored after four days while Hiawatha Avenue road site visitors remained closed for staging of development accessories.
This failure happened less than 18 months after URS Corporation settled out of court the court cases surrounding the Minneapolis I 35W bridge crumble.