MasTec history

In 1968 Burnup & Sims went public, and the shares sold helped raised capital for new, more ambitious projects.

In exchange for half ownership of CTF, Mas Canosa began to manage the company in 1969.

In 1990 Jorge Mas established a new subsidiary, Church & Tower, Inc. (CT), to engage in selected construction projects in the public and private sectors.

For some time the Mas family had been thinking about taking the company public, but 1992 Hurricane Andrew's passage over southern Florida delayed the plans.

On March 11, 1994--in a reverse acquisition--the privately owned Church & Tower Group acquired 65 percent of the outstanding common stock of publicly traded Burnup & Sims, Inc.

By the end of 1995 the company had combined the strengths of its subsidiaries and organized its operations into three principal business segments: telecommunications and related construction services, CATV infrastructure construction and maintenance, and general construction services.

Another subsidiary, MasTec Technologies Inc., was established in 1996 to provide management services of wireless networks.

In January 1997 the company announced a three-for-two stock split and on February 14 of that year began trading its common stock on the New York Stock Exchange.

In 1999, Jorge, Jr., retired from day-to-day operations, remaining on-board as chairman.

2000: MasTec revenue peaks at $1.33 billion.

MasTec began to consolidate its many subsidiaries into two major groups: MasTec North America, Inc. and MasTec Brazil, S.A. Still, for fiscal 2001 MasTec posted a loss of $92.35 million in revenue—due primarily to increases in bad debt expense of $182.2 million during the year.

“S&P Cuts MasTec Inc. [Bonds] to Junk Status,” Standard & Poor’s Ratings Services, March 18, 2003.

In April 2007, Jose Mas became CEO of MasTec.