Registered in Hong Kong, Meiho Sweett's ownership is split 50/50 between the two Joint Venture partners.
The establishment of Meiho Sweett further cements the successful working relationship the two partners have developed since entering into a formal alliance in July 2010. The combination of Cyril Sweett's cost and value management skills together with Meiho's excellent reputation for design and project management in the commercial, leisure, retail, energy and infrastructure sectors will enable Meiho Sweett to provide an enhanced service offering for clients across the Asia Pacific region, most notably in Japan.
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During the past twelve months, Cyril Sweett has invested significantly in expanding its presence and service offering in Asia, one of the Company’s key growth markets. In July 2010, the Company acquired Widnell Limited, the Hong Kong based quantity surveying firm, which has since increased its presence to over 450 staff in nine offices across China. In December 2010, the Company formed an alliance with Kuala Lumpur based Perunding C&T Management, one of Malaysia’s leading cost consultancy firms.
Dean Webster, Cyril Sweett's Chief Executive Officer, said: "This announcement marks a further step in the Company’s international diversification and is a testament to our successful collaboration with Meiho. We believe Meiho Sweett will significantly strengthen our service offering and provide added benefits and synergies for our growing client base in the region."
(CD/KMcA)
