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Symonds buys Travers Morgan

CONSULTING engineer Travers Morgan has been bought by the French- owned facilities management firm Symonds.

Symonds is part of the 18 billion Compagnie Gnrale des Eaux utilities conglomerate.

Chris Booy, chief executive of Symonds, said: The acquisition of Travers Morgan allows us to fill a gap in its range of services with a quality name in engineering consultancy.

But sources at Travers Morgan said the sale was likely to bring a round of job cuts at the 800-strong firm.

The company was originally put up for sale by parent Huntingdon International more than a year ago. Huntingdon bought Travers Morgan in 1991 for 10.5 million.

The final price paid by Symonds is expected to be far less than this.

Symonds was one of three shortlisted firms which submitted bids after Travers Morgan went into administration last December.

It is understood that the two unsuccessful bids came from Babtie, the Glasgow-based consultant, and from an unnamed international investment group.