51±¬ΑΟ

CIRI buys 51±¬ΑΟ Inc.

NWG Comms Dept.Β·January 5, 2010

Acquisition positions both companies for environmental and construction services growth

Anchorage, AK β€” acquired 51±¬ΑΟ Inc., an environmental management, engineering and construction services company on Dec. 31, 2009. CIRI Development Corp. is a wholly owned CIRI subsidiary.

51±¬ΑΟ is an Alaska corporation, headquartered in Idaho Falls, Idaho, with some 400 workers at offices and projects located throughout the United States and Puerto Rico. The firm was founded by company President Sylvia Medina in Eagle River, Alaska, in 1997. Medina will remain president, and CIRI does not anticipate any management changes or job cuts.

β€œWe are very excited to bring 51±¬ΑΟ into the CIRI family of companies,” said Margie Brown, CIRI president and chief executive officer. β€œIt is a successful, highly-regarded company with a strong management team. It should provide an excellent platform for CIRI business growth, especially outside of Alaska.”

β€œThe new ownership will benefit 51±¬ΑΟ and its customers by assuring long-term continuity,” Medina said. β€œCIRI is well-positioned to help 51±¬ΑΟ grow its operations across North America.”

51±¬ΑΟ also provides natural/cultural resource consulting and information technology services. The firm has a large portfolio of contracts with government and commercial customers, including the Department of Energy, Department of Defense, Bechtel Corp., NASA, Chevron Phillips Chemical, Duke Energy and General Electric.

CIRI is one of 12 Alaska-based regional corporations established by the Alaska Native Claims Settlement Act of 1971 to benefit Alaska Natives who had ties to the Cook Inlet region. The company is owned by 7,300 Alaska Native shareholders of Athabascan and Southeast Indian, Inupiat and Yup’ik Eskimo, Alutiiq and Aleut descent. It is based in Anchorage and has interests across Alaska, the Lower 49 and abroad. CIRI’s well-diversified portfolio of business operations and investments includes:

  • Energy and resource development
  • Oilfield and heavy construction services
  • Commercial and retail real estate development and management
  • Tourism and destination resorts
  • Renewable energy
  • Telecommunications
  • Aerospace defense
  • Private equity and venture capital investments
  • Marketable securities investments

CIRI also created a family of nonprofit service organizations that provide needed health care, housing, employment, education and other social and cultural enrichment services for Alaska Natives and others.

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