YRM sold to RMJM
RMJM has officially snapped up troubled 67-year-old nuclear and aviation specialist YRM
It is understood only a handful of YRM’s 20-strong London-based workforce will join the architecture giant, initially working as a ‘studio’ under the banner YRM Lab.
Founded by FRS Yorke, Eugene Rosenberg and Cyril Mardall in 1944, YRM was forced to close its offices in Vienna and Bucharest in 2010 and has struggled to find work this year.
However it still has a number of major nuclear power schemes on its books including the £10 billion Hinkley Point C nuclear power plant project in Somerset.
The AJ has learned that it was YRM that first made contact with RMJM about a potential sale.
RMJM has had its own financial difficulties this year, including problems with paying staff. In March the company’s controlling dynasty, the Morrison family, pumped £8 million into the global practice to tackle ‘cash-flow issues’ (AJ 16.03.2011).
John Clemow, chief executive of YRM said: ‘We approached RMJM seeing the potential of a practice combining architecture, masterplanning, design and environmental engineering with over 800 staff and offices on four continents. Joining RMJM provides the capacity, capability and reach our clients in the UK, EU and EMEA increasingly require.’
Peter Morrison of RMJM (pictured) added: ‘YRM’s leading position in energy and technology related projects and our combined experience across a wide range of sectors, significantly strengthens RMJM’s offer in the Global Marketplace.’
A spokesman added: The demand for clean and secure energy supply is driving interest and investment in nuclear power.
‘The exponential development of internet based communication continues, requiring development of digital real estate. RMJM believes there are very substantial opportunities in these sectors, as well as in other technology intensive industries such as pharmaceuticals, high end manufacturing and transportation.’