HS2 station contracts worth £2.56bn awarded to Mace, Balfour Beatty and Vinci February 6, 2019 HS2 has tasked construction firms Mace, Balfour Beatty and Vinci with building the project’s London terminus and west London super-hub at Old Oak Common, in deals worth £2.56bn. Mace and joint venture partner construction firm Dragados will take on the work at Euston, worth £1.65bn, in an award which will come as a blow to [...]
Lloyds prepares for Brexit with Berlin banking licence January 18, 2019 Lloyds Banking Group has secured a banking license for its Berlin subsidiary as the Brexit deadline date approaches. The lender has previously run the office on a standard passporting licence, however all British banks with customers in the EU could lose the licence after March 29 therefore Lloyds is seeking further regulatory approval, Reuters reported. [...]
Business titans tell ministers ‘next six months are critical’ in post-Brexit vote conference call January 16, 2019 Some of the UK’s highest-flying executives reportedly lashed out at the government after its historic defeat on Theresa May’s Brexit deal in parliament yesterday. The bosses of Balfour Beatty, Amazon and Tesco confronted cabinet members who failed to rule out a no-deal Brexit following the government’s massive defeat in a heated conference call immediately after [...]
A year on from Carillion: 12 months that brought outsourcing to its knees January 15, 2019 On the anniversary of Carillion’s dramatic collapse, two more public sector outsourcing giants, Interserve and Kier Group, are up against the ropes. In the intervening 12 months, outsourcers have lurched from one crisis to another, with profit warnings, massive project failures and revelations of systemic late payment of suppliers. City A.M. charts a year which [...]
Balfour Beatty set to grow revenues against backdrop of struggling construction rivals December 14, 2018 Balfour Beatty is on course to beat expectations after selling off more of its infrastructure investment stakes in December, the engineering firm said today. The engineering firm expects to net about £65m in profit from the disposals over the full year, which come under its Build to Last transformation programme that will also see it sell [...]
Rail regulator fines TfL and Balfour Beatty over £400,000 for injury of rail worker December 3, 2018 The rail regulator has fined London Underground and Balfour Beatty more than £400,000 for breaking health and safety laws that led to a worker suffering life-changing injuries. London Underground was fined £100,000 while construction giant Balfour Beatty was hit with a £333,000 fine. Both bodies pleaded guilty to breaking the laws, which resulted in worker [...]
Another step forward for “super-sewer” as Balfour Beatty clinches building £416m contract and Tideway pension consortium wins rights to own it August 24, 2015 A bit of good news for troubled builder Balfour Beatty, which this morning announced it had been awarded a £416m contract to build the £4.2bn giant Thames Tideway Tunnel, aka the controversial "super-sewer", as the tunnel's new owners slashed costs on the project. The company said its joint venture with Morgan Sindall and BAM Nutall [...]
Balfour Beatty share price falls as it issues £150m profit warning July 9, 2015 Maybe that takeover rebuttal wasn't such a good idea? Shares in construction giant Balfour Beatty – which this time last year unceremoniously rejected a merger bid from rival Carillion – fell more than five per cent to 216.4p this morning after it admitted pre-tax profits are likely to be hit by "legacy issues" across its [...]
Chinese builder CCECC considering bid for UK’s Balfour Beatty June 7, 2015 British construction group Balfour Beatty is being considered as a potential takeover target by the China Civil Engineering Construction Corporation (CCECC), despite chief executive Leo Quinn’s commitment to keeping Balfour an independent company. The Chinese state-owned firm is reported to be in talks with the aim of making an offer for the company, which is [...]
Balfour Beatty sells Edinburgh stake for £72m to specialist fund manager Equitix April 28, 2015 The transformation of infrastructure group Balfour Beatty moved forward again yesterday, as the company announced the sale of its 50 per cent interest in the Royal Infirmary of Edinburgh public-private partnership for £72m. Balfour’s investment is being bought by funds managed by specialist fund manager Equitix, and the sale is expected to complete in June. [...]