SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 11-K
ANNUAL REPORT
PURSUANT TO SECTION 15(D) OF THE
SECURITIES EXCHANGE ACT
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x ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934.
For the fiscal year ended December 31, 1994
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OR
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934.
For the transition period from ________________ to __________________
Commission file number 0-3797
A. Full title of the plan and the address of the Plan, if different from
that ot the issuer named below:
The MasTec, Inc. 401(k) Retirement Savings Plan
B. Name of the issuer of the securities held pursuant to the Plan and
address of its principal executive office:
MasTec, Inc.
8600 N.W. 36th Street
Miami, Florida 33166
Page 1 of 22
REQUIRED INFORMATION
4. Financial Statements
The Plan hereby files its financial statements for the fiscal year
ended December 31, 1994, prepared in accordance with the financial
reporting requirement of the Employee Retirement Income Security Act of
1974.
Page 2 of 22
THE MASTEC, INC.
401(K) RETIREMENT SAVINGS PLAN
REPORTS ON AUDITS OF FINANCIAL STATEMENTS
AND SUPPLEMENTAL SCHEDULES
for the years ended December 31, 1994 and 1993
Page 3 of 22
Table of Contents
Pages
Report of Independent Accountants 5-6
Financial Statements:
Statement of Net Assets Available for Benefits
as of December 31, 1994 7
Statement of Changes in Net Assets Available for Benefits
for the Year Ended December 31, 1994 8
Statement of Net Assets Available for Benefits
As of December 31, 1993 10
Statement of Changes in Net Assets Available for Benefits
for the Year Ended December 31, 1993 11
Notes to Financial Statements 12-17
Supplemental Schedules:
Item 27a of Form 5500 - Schedule of Assets Held for Investment
Purposes As of December 31, 1994 18
Item 27d of Form 5500 - Schedule of Reportable Transactions
for the Year Ended December 31, 1994 19
Page 4 of 22
REPORT OF INDEPENDENT ACCOUNTANTS
To the Board of Trustees of the
The MasTec, Inc.
401(k) Retirement Savings Plan:
We have audited the accompanying statement of net assets
available for benefits of the MasTec, Inc. 401(k) Retirement
Savings Plan as of December 31, 1994 and the related statement
of changes in net assets available for benefits for the year
ended December 31, 1994. These financial statements are the
responsibility of the Plan's management. Our responsibility is
to express an opinion on these financial statements based on our
audit.
We conducted our audit in accordance with generally accepted
auditing standards. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that
our audit provides a reasonable basis for our opinion.
In our opinion, the financial statements referred to above
present fairly, in all material respects, the net assets
available for benefits of the Plan as of December 31, 1994, and
the changes in net assets available for benefits for the year
ended December 31, 1994, in conformity with generally accepted
accounting principles.
Our audit was performed for the purpose of forming an opinion on
the basic financial statements taken as a whole. The
supplemental schedules of Assets Held for Investment Purposes of
The MasTec, Inc. 401(k) Retirement Savings Plan as of December
31, 1994, and Reportable Transactions for the year then ended,
are presented for the purpose of additional analysis and are not
a required part of the basic financial statements but are
supplementary information required by the Department of Labor's
Rules and Regulations for Reporting and Disclosure under the
Employee Retirement Income Security Act of 1974. The Fund
Information in the statement of net assets available for benefits
and the statement of changes in net assets available for benefits
is presented for purposes of additional analysis rather than to
present the net assets available for plan benefits and changes in
net assets available for plan benefits of each fund. The
supplemental schedules and Fund Information have been subjected
to the auditing procedures applied in our audit of the 1994 basic financial
statements and, in our opinion, are fairly stated in all
material respects in relation to the basic financial statements
taken as a whole.
Coopers & Lybrand LLP
Miami, Florida
July 18, 1995
Page 5 of 22
IDEPENDENT AUDITORS' REPORT
To the Plan Administrative Committee of the
MasTec, Inc. (Formerly Burnup & Sims Inc.)
Variable Investment Plan
We have audited the accompanying statement of net assets available for
benefits of MasTec, Inc. Variable Investment Plan (the "Plan") as of
December 31, 1993, and the related statement of changes in net assets
available for benefits for the year ended December 31, 1993. The
financial statements and supplemental schedules are the responsibility
of the Plan's management. Our responsibility is to express an opinion
on these financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements
are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that
our audit provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly,
in all material respects, the net assets available for benefit of MasTec, Inc.
Variable Investment Plan as of December 31, 1993, and changes in its net
assets available for benefits for the year then ended in conformity with
generally accepted accounting principles.
Our audit of the Plan's financial statements as of and for the year ended
December 31, 1993, was conducted for the purpose of forming an opinion
on the financial statements taken as a whole. The supplemental schedules
of assets held for investment purposes and reportable transactions as of and
for the year ended December 31, 1993, are presented for the purposes of
additional analysis and are not a required part of the basic financial
statements, but are supplementary information required by the Department
of Labor's Rules and Regulations for Reporting and Disclosure under the
Employee Retirement Income Security Act of 1974. The supplemental schedules
have been subjected to the auditing procedures applied in the audit of the
basic financial statements for the year ended December 31, 1993, and, in our
opinion, are fairly stated in all material respects in relation to the basic
financial statements taken as a whole.
As discussed in Note 2 to the financial statements, the plan changed it's
method of accounting for withdrawls to participants in 1993.
MERCURIO & ASSOCIATES, P.A.
July 19, 1994
(August 1, 1994, as to Note 5)
Page 6 of 22
THE MASTEC, INC.
401(K) RETIREMENT SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
December 31, 1994
Guaranteed Income & Growth Mastec Life Diversified
Interest Growth Opport Common Ins Equity
Fund Fund Fund Stock Fund Fund Fund Total
Assets
Investments at
fair value
(Note 2) $ 0 $304,809 $928,837 $19,526 $88,029 $ 0 $1,341,201
Participant
notes receivable 140,442 0 0 0 0 0 140,442
Cash and cash
equivalents 30,880 138 3,601 0 0 5,818 40,437
171,322 304,947 932,438 19,526 88,029 5,818 1,522,080
Investment, at
contract value
(Note 2):
ITT Hartford Life
Insurance Company
Group Annuity
Contract #GA-3565 3,384,009 0 0 0 0 0 3,384,009
Total investments 3,555,331 304,947 932,438 19,526 88,029 5,818 4,906,089
Receivables:
Participants'
contributions 91,822 28,182 36,636 14,171 1,872 0 172,683
Interest
receivable 745 386 395 108 0 0 1,634
Total
receivables 92,567 28,568 37,031 14,279 1,872 0 174,317
Due from (to)
other funds 26,722 0 (36,396) 9,674 0 0 0
Total assets $3,674,620 $333,515 $933,073 $43,479 $89,901 $5,818 $5,080,406
Net assets
available for
benefits $3,674,620 $333,515 $933,073 $43,479 $89,901 $5,818 $5,080,406
The accompanying notes are an integral part of these financial statements.
Page 7 of 22
THE MASTEC, INC.
401(K) RETIREMENT SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
year ended December 31, 1994
Guaranteed Income & Growth Mastec Life Diversified
Interest Growth Oppor Common Ins Equity
Fund Fund Portfolio Stock Fund Fund Fund Total
Assets Additions to
net assets attributed to:
Investment income
Net appreciation/
(depreciation)
in fair value
of investments $ 0 $ (9,300) $(65,305) $ 2,383 $ 0 $ (2,396) $ (74,618)
Interest and
dividends 278,743 3,302 54,802 108 1,144 3,768 341,867
278,743 (5,998) (10,503) 2,491 1,144 1,372 267,249
Contributions:
Participants' 540,915 79,250 78,106 31,314 15,717 85,905 831,207
Total
additions 819,658 73,252 67,603 33,805 16,861 85,277 1,098,456
Deductions from
net assets
attributed to:
Participants
withdrawals 1,588,931 35,612 42,286 0 25,394 461,648 2,153,871
Total deductions 1,588,931 35,612 42,286 0 25,394 461,648 2,153,871
Net increase
(decrease) prior
to transfers (769,273) 37,640 25,317 33,805 (8,533) (374,371) (1,055,415)
Transfers (326,200) 295,875 907,756 9,674 0 (887,105) 0
Net increase
(decrease) (1,095,473) 333,515 933,073 43,479 (8,533) (1,261,476) (1,055,415)
Net assets
available
for benefits:
Beginning
of year 4,770,093 0 0 0 98,434 1,267,294 6,135,821
End of year $3,674,620 $333,515 $933,073 $43,479 $89,901 $ 5,818 $5,080,406
The accompanying notes are an integral part of these financial statements.
Page 8 of 22
THE MASTEC, INC.
401(K) RETIREMENT SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
December 31, 1993
Guaranteed Life Diversified
Interest Insurance Equity
Fund Fund Fund Total
ASSETS
Investments at fair
value (Note 2) $ 0 $ 98,434 $1,254,631 $1,353,065
Participants notes
receivable 162,888 0 0 162,888
162,888 98,434 1,254,631 1,515,953
Investments at
contract value (Note 2):
Hartford Life Insurance
Company group annuity
contract #GA-3565,
matures 12/31/93 4,562,724 0 0 4,562,724
Total investments 4,725,612 98,434 1,254,631 6,078,677
Receivables:
Participants'
contributions 43,055 1,428 12,604 57,087
Interest receivable 1,426 0 59 1,485
Total receivables 44,481 1,428 12,663 58,572
Total assets 4,770,093 99,862 1,267,294 6,137,249
LIABILITIES
Insurance premiums
payable 0 1,428 0 1,428
Net assets available
for benefits $4,770,093 $ 98,434 $1,267,294 $6,135,821
The accompanying notes are an integral part of these financial
statements.
Page 9 of 22
THE MASTEC, INC.
401(K) RETIREMENT SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
year ended December 31, 1993
Guaranteed Life Diversified
Interest Insurance Equity
Fund Fund Fund Total
ASSETS
Additions to net
assets attributed to:
Investments income
Net depreciation in
fair value of
investments $ 0 $ 0 $ (94,433) $ (94,433)
Interest and
dividends 345,032 0 139,463 484,495
345,032 0 45,030 390,062
Contributions:
Participants' 530,242 20,577 162,102 712,921
Total additions 875,274 20,577 207,132 1,102,983
DEDUCTIONS
Deductions from net
assets attributed to:
Participants
withdrawals 653,172 0 85,644 738,816
Insurance premiums 0 20,577 0 20,577
Decrease in cash
surrender value of
life insurance 0 1,029 0 1,029
Total deductions 653,172 21,606 85,644 760,422
Net increase
(decrease) prior
to transfers 222,102 (1,029) 121,488 342,561
Transfers (49,357) 1 49,356 0
Net increase
(decrease) 172,745 (1,028) 170,844 342,561
Net assets available
for benefits:
Beginning of year,
as previously reported 4,534,827 99,462 1,080,535 5,714,824
Cumulative effect of
accounting change
(Note 2) 62,521 0 15,915 78,436
End of year $4,770,093 $98,434 $1,267,294 $6,135,821
The accompanying notes are an integral part of these financial statements.
Page 10 of 22
THE MASTEC, INC. 401(K) RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
1. Description of Plan:
The following description of the MasTec, Inc. (the "Company")
401(K) Retirement Savings Plan (the "Plan") provides only
general information. The Plan agreement contains a more
complete description of the Plan's provisions.
General
The Plan is a defined contribution plan covering all employees
of the Company who are age twenty-one or older and are scheduled
to work 1,000 or more hours. Eligible participants may enter
the Plan on January 1 or July 1. It is subject to the
provisions of the Employee Retirement Income Security Act of
1974 ("ERISA") and is exempt from federal and state income taxes.
The Plan is administered by the Employee Benefits Committee
(Plan Administrators). The Board of Directors has appointed
First Union as Trustee of the Plan for all funds except for the
MasTec Common Stock Fund. Plan assets are held by four
custodians (First Fidelity - New England Securities, ITT
Hartford Insurance, First Colony Life Insurance Company and
First Union). The Barclay Group (Plan's Recordkeeper) performs
certain administrative services including maintenance of
participant records, for which fees were paid in 1994 and 1993
by the Company.
Contributions
Participants may contribute from 1% to 15% of their pre-tax
annual compensation subject to certain dollar amount limits, as
defined in the plan agreement. The maximum contribution allowed
during 1994 was $9,240.
Participant Accounts
Each participant's account is credited with the participant's
contribution, the Company's discretionary contribution, if any,
any rollovers into the Plan (permitted at the discretion of the
plan administrator) and an allocation of the Plan's earnings.
Each participant's account is reduced by any withdrawals or
distributions and an allocation of (a) his share of investment
losses and depreciation in value of investments and (b)
administrative fees paid by the Plan if not paid by the Company.
The benefit to which a participant is entitled is the
participant's vested account balance.
Page 11 of 22
1. Description of the Plan, Continued:
Investment Options
Upon enrollment in the Plan, a participant may direct
contributions to any of four investment options. Participants
may elect to invest contributions in a single fund in 5%
increments, among any of the following four investment options:
Hartford Guaranteed Interest Fund - Funds are invested in
contracts with the Hartford Life Insurance Company which
provides for repayment of principal and annual interest at
guaranteed rates for a fixed period. During 1994 and 1993, the
minimum guaranteed rate was 6.90% and 7.50%, respectively. The
guaranteed interest rate is announced before the start of each
year by Hartford Life.
Fidelity Adviser Income and Growth Fund - Funds are invested in
U.S. Treasury issues, corporate bonds, foreign investments,
convertible securities and stocks.
Fidelity Advisor Growth Opportunities Fund - Funds are invested
in traditional growth stocks and debt securities.
MasTec Common Stock Fund - Funds are invested solely in shares
of the common stock, par value $0.10 per share of MasTec, Inc.
The fund will invest up to 500,000 shares, as determined under
the rules of ERISA and the Internal Revenue Code (IRC).
A participant may not invest more than 50% of his aggregate
account balance in the MasTec, Inc. common stock fund.
Life Insurance Fund - The fund was not offered as an investment
option to participants after July 1, 1994.
Diversified Equity Fund - The fund was not offered as an
investment option to participants after July 1, 1994.
Transfers and Rollovers
Participants may rollover balances held in other qualified
retirement plans at the discretion of the Plan Administrators.
Withdrawals
Certain withdrawals from participant accounts are only allowed
for financial hardship (in accordance with IRS regulations).
1. Description of the Plan, Continued:
Participant Notes Receivable
Participants may borrow a maximum of the lesser of (1) $50,000
or (2) fifty percent (50%) of their individual vested account
balance. Loan terms range from 1-5 years or up to 10 years for
the purchase of a primary residence. The loans bear interest at
rates determined by the Plan Administrators.
Page 12 of 22
Payment of Benefits
On termination of service, due to death, disability, or
retirement, a participant receives payment of the vested accrued
benefit in a single lump sum or the payment can be deferred
under certain circumstances to normal retirement age. For
termination of service due to other reasons, a participant is
entitled to receive only the vested percentage of his account
balance.
Vesting
Participants are immediately vested in their contributions and
rollovers and the earnings thereon. Participants are vested in
Company contributions, if any, to the extent reflected below:
Years of Service Percentage
Less than 3 30%
3 33%
4 67%
5 or more 100%
Participants forfeit the portion of their account balance to
the extent not vested. There were no amounts forfeited as of
December 31, 1994 and 1993.
2. Summary of Significant Accounting Policies:
The significant accounting policies followed by the Plan are as
follows:
Basis of Accounting
The financial statements of the Plan are prepared in conformity
with generally accepted accounting principles.
Valuation of Investments and Income Recognition
The Plan's investments are valued by the custodians (Note 1)
and are stated at fair value.
Purchase and sales transactions are recorded on a trade date
basis. Any gain or loss resulting from the sale of fund units
is determined as the difference between the sales proceeds and
the average cost of the units sold. Investment income is
recorded on the accrual basis.
Page 13 of 22
Investment Income
Net appreciation/depreciation in the fair value of investments
consists of the realized gains or losses and the unrealized
appreciation (depreciation) on investments.
Participant Withdrawals
Withdrawals made by participants are recorded when paid.
Administrative Costs
All administrative expenses of the Plan, including, without
limitation, the allocable portion of compensation of plan
administrative staff and fees of employee benefits consultants,
legal counsel, and auditors' fees are chargeable to the Plan.
The Company may, at its sole discretion, pay any such expenses,
in whole or in part. The Company assumed responsibility for
administrative expenses for the year ended December 31, 1994 and
1993.
Benefit Claims Payable
In 1993, the Plan adopted the provisions of the AICPA Audit and
Accounting Guide, "Audits of Employee Benefit Plans", with
conforming changes as of May 1, 1994, requiring that amounts
allocated to withdrawing participants not be reported as a
liability on the statement of net assets available for benefits.
As a result, the Plan recorded a cumulative effect adjustment
at the beginning of 1993 of $78,436. This represents the
amounts allocated to withdrawing participants but not yet paid
at December 31, 1992.
3. Investment Contract With Insurance Company:
The Plan entered into a Group Annuity Contract with the
Hartford Life Insurance Company ("ITT Hartford"). ITT Hartford
maintains the contributions in an Immediate Participation Fund.
The fund is credited with earnings (i.e., interest on each
minimum monthly balance in the Fund during the contract year)
and charged for Plan withdrawals and administrative expenses
incurred by ITT Hartford. The contract is included in the
financial statements at contract value, as reported to the Plan
by ITT Hartford. Contract value represents contributions made
under the contract, plus earnings, less plan withdrawals, and
administrative expenses.
4. Plan Termination:
Although it has not expressed any intent to do so, the Company
has the right under the Plan to discontinue its contributions at
any time and to terminate the Plan subject to the provisions of
ERISA. In the event of Plan termination, participants will
become 100% vested in their accounts.
Page 14 of 22
5. Reconciliation of Financial Statements to Form 5500:
The following is a reconciliation of net assets available for
benefits per the financial statements to the Form 5500:
1994 1993
Net assets available for benefits per
the financial statements $5,080,406 $6,135,821
Amounts allocated to withdrawing
participants (566,612) (164,622)
Net assets available for Plan
benefits per the Form 5500 $ 4,513,794 $5,971,199
The following is a reconciliation of benefits paid to
participants per the financial statements to Form 5500.
Year ended
December
31, 1994
Withdrawals paid to participants per the
financial statements $2,153,871
Add: Amounts allocated to withdrawing
participants at December 31, 1994 566,612
Less: Amounts allocated to withdrawing
participants at December 31, 1993 (164,622)
Withdrawals paid to participants per
the Form 5500 $2,555,861
5. Reconciliation of Financial Statements to Form 5500,
Continued:
Amounts allocated to withdrawing participants are recorded on
Form 5500 for claims that have been processed and approved for
payment prior to December 31, but not yet paid as of that date.
6. Tax Status:
The Internal Revenue Service has determined and informed the
Company by a letter dated August 13, 1992, that the Plan is
designed in accordance with applicable sections of the IRC. The
Plan has been amended since receiving the determination letter.
However, the Plan Administrator and the Plan's legal counsel
believe that the Plan is designed and is currently being
operated in compliance with the applicable requirements of the
IRC.
7. Plan Amendments:
In 1994, the Plan was amended as follows:
The name of the Plan was changed from MasTec Inc. Variable
Investment Plan (formerly Burnup & Sims Inc.) to "The MasTec,
Inc. 401(k) Retirement Savings Plan. The Plan's definition of
the term "Company" previously Burnup & Sims, Inc. was changed to
MasTec, Inc.
Page 15 of 22
The Company stock fund was offered as an investment option.
The Plan applied the Omnibus Budget Reconciliation Act
("OBRA") highly annual compensation limit. The OBRA annual
compensation limit is $150,000 as adjusted by the commissioner
for increases in the cost of living in accordance with the IRC.
In addition, the Plan applied revenue procedures which allows
participants receiving distributions from safe-harbored
profit-sharing plans to waive the 30-day period required under
the Unemployment Compensation Act of 1992.
Page 16 of 22
THE MASTEC, INC.
401(K) RETIREMENT SAVINGS PLAN
ITEM 27a OF FORM 5500 - SCHEDULE OF ASSETS
HELD FOR INVESTMENT PURPOSES
as of December 31, 1994
(a) Participating
Units or Par
Value (b) Identity of Party (c) Description of Investment (d) Cost (e) Fair Value
38,067 First Fidelity New England Securities Growth Opportunity Fund $ 990,813 $ 928,837
21,226 First Fidelity New England Securities Income & Growth Fund 313,025 304,809
N/A ITT Hartford Guaranteed Interest Contract 3,384,009 3,384,009
N/A First Colony Life Insurance Company Life Insurance Fund 150,362 88,029
3,405 Mastec Common Stock Fund 17,145 19,526
N/A Participant loans Loans to participants 8.00% - 11.00% 0 140,442
$4,855,354 $4,865,652
Page 17 of 22
THE MASTEC, INC.
401(K) RETIREMENT SAVINGS PLAN
ITEM 27d OF FORM 5500 - SCHEDULE OF REPORTABLE TRANSACTIONS*
for the year ended December 31, 1994
(f) Value of
Assets on
(c) Purchase (d) Selling (e) Cost of Transaction (g) Net Gain
(a) Identity of Party Involved (b) Description of Assets Price Price Asset Date or (Loss)
ITT Hartford Guaranteed Interest Contract
Purchases $ 882,572 $ 0 $ 0 $ 882,572 $ 0
Sales 0 2,061,287 2,061,287 0 0
20th Century Investments Diversified Equity Fund 0 1,339,913 1,117,538 0 222,375
First Union National Bank Fidelity Institutional Cash
Domestic Portfolio #690
Purchases 3,150,203 0 0 3,150,203 0
Sales 0 1,980,926 1,980,926 0 0
New England Securities Growth Opportunity Fund
Purchases 1,041,578 0 0 1,041,578 0
Sales 0 1,036,928 1,040,258 0 3,330
New England Securities Income and Growth Fund 356,618 0 0 356,618 0
* Under ERISA, a reportable transaction is defined as a
transaction or series of transactions during the plan year that
involves more than 5% of the fair value of the plan assets at
the beginning of the plan year.
Page 18 of 22
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the administrator of the Plan has duly caused this annual report to be
signed on its behalf by the underigned hereunto duly authorized.
MASTEC, INC. 401(K) RETIREMENT SAVINGS PLAN
DATE: October 5, 1995 /s/ Carmen Sabater
--------------------------
Carmen Sabater
Comptroller
Page 19 of 22
EXHIBIT INDEX
Exhibit No. Page No.
23 Consent of Independent Accountants 22
Page 20 of 22
CONSENT OF INDEPENDENT ACCOUNTANTS
As independent accountants, we hereby consent to the incorporation
by reference in the Registration Statement on Form S-8 of MasTec, Inc.
relating to The MasTec, Inc. 401(k) Retirement Savings Plan (the "Plan")
of our report dated July 17, 1994 relating to the financial statements
of the Plan included in this annual report on Form 11-K of the Plan for
the year ended December 31, 1993.
MERCURIO & ASSOCIATES, P.A.
West Palm Beach, FL
October 2, 1995
Page 21 of 22
CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in the registration
statement of MasTec, Inc. on Form S-8 of our report dated July 18, 1995,
on our audit of the financial statements and supplemental schedules of
The MasTec, Inc. 401(k) Retirement Savings Plan as of December 31, 1994,
and for the year ended December 31, 1994, which report is included in this
Annual Report on Form 11-K.
COOPERS & LYBRAND, LLP
Miami, FL
October 3, 1995
Page 22 of 22
