Dames & Moore Buys Unit of Dow Chemical

Los Angeles-based Dames & Moore Group bought Radian International from industrial and agricultural products giant Dow Chemical Co. for $117 million in cash, expanding its process engineering business. Austin, Texas-based Radian generates annual revenue of about $300 million from the engineering, construction and information management services it sells to large chemical, petroleum and manufacturing companies, and to government agencies. Dames & Moore is an engineering and construction company that provides consulting services, including process and chemical engineering, and transportation planning and design. It has more than 7,800 employees at offices in more than 30 countries. The purchase will increase Dames & Moore’s annual revenue to more than $1 billion. Radian has 48 offices worldwide, including 36 in the U.S. On the New York Stock Exchange, Dames & Moore shares rose 19 cents to close at $12.69; Dow shares fell 6 cents to 490.69.