Centex Construction Group (CCG at www.centex-construction.com), the largest U.S. general building contractor, is relocating its headquarters from Dallas to Plantation, Fla., in Broward County.

Recently named by the Fortune magazine as "the most admired construction company in America," CCG is a US$3.7 billion commercial and institutional builder operating in 22 U.S. states and in the Bahamas. The company currently has more than 400 active projects. During its history, CCG has completed approximately $21 billion of public- and private-sector projects, according to company officials.

South Florida Subsidiary Major
Player in CCG's Record Growth

In fiscal 1999, Centex Corp. achieved record levels of both revenues ($5.2 billion) and net earnings ($232 million).

Accordingly, Centex Construction's employment base has rapidly grown, with more than 250 new employees added in the past year. That brings CCG's total staff to a total of more than 1,200.

With the move to South Florida, CCG expects to recruit add another 150 employees in the coming year, officials say.

Significantly, one of CCG's five subsidiaries was already located in South Florida: Fort Lauderdale-based Centex Rooney.

Centex Rooney ranks as the largest builder in Florida, with high-profile projects including Bass Pro Shops, the Broward County Arena, Burger King's headquarters, Carnival Cruise Lines' headquarters, the Jacksonville Performing Arts Center, Sawgrass Mills Mall, the Tampa Convention Center, and numerous projects at Walt Disney World.

Centex Rooney Chairman Also Takes CCG Reins

The relocation announcement coincided with the announcement of a change in CCG's leadership. Bob Moss, current chairman of Centex Rooney, has been named chairman and CEO of CCG.

Other leadership roles in the company also changed hands in the reorganization. For example, the company's financial and legal officers will now be based in Florida, CCG officials announced.

"The company's move to Fort Lauderdale, in conjunction with several appointments and promotions, is a positive restructuring for Centex Construction Group, as Florida has always been a great market for our business," Moss said. "As the new chairman and CEO of the organization, I am very proud to announce our relocation."

Moss also announced that the company will build a new facility in the city of Plantation. The facility, Centex Center, will house both the CCG and Centex Rooney staffs. Project construction will be completed and employees will move into the new facility late this year, according to CCG officials' projections.

Centex Corp. to Remain in Dallas

Centex Construction Group (CCG) is a division of Centex Corp. (www.centex.com), which will keep its headquarters located in Dallas.

Other Centex Corp. divisions are significant players in the building and mortgage lending industries. Centex Corp. also has an investment real estate operation and is the majority owner of a publicly held construction products company.