Balfour Beatty and Carillion begin £3bn merger talks July 24, 2014 Construction groups Balfour Beatty and Carillion are in talks to merge, a deal which could create a colossus with a market capitalisation of more than £3bn. Carillion confirmed yesterday that the negotiations were underway, and that it had approached its slightly-larger but weakened competitor. Balfour Beatty has been in a bleak position in recent months [...]
Balfour Beatty share price nosedives after profit warning July 3, 2014 Infrastructure group Balfour Beatty’s share price plunged 15 per cent in early trading yesterday, after the firm delivered its fourth profit warning in two years. The FTSE 250-quoted company said its expected a £35m profit shortfall, due to problematic contracts in the engineering services part of its UK construction business. Most of this will come [...]
Balfour Beatty issues profit warning for electrical engineering arm July 3, 2014 Infrastructure company Balfour Beatty has warned in its trading update that there has been further worsening in the trading performance of the mechanical and electrical engineering part of its UK construction business, amounting to a £35m profit shortfall. However, the company said the loss would be largely offset by further targeted private-public partnership (PPP) disposal [...]
Babcock and Balfour Beatty win £160m Sellafield waste contract. June 25, 2014 BABCOCK International and Balfour Beatty said yesterday they had won a £160m contract to build a new silo maintenance facility at the site of Sellafield nuclear power plant as part of the ongoing decommissioning process. The contract will be led by Cavendish Nuclear, a wholly owned subsidiary of Babcock, which will have 55 per cent [...]
Balfour Beatty in £184m contract for motorway upgrade June 19, 2014 Balfour Beatty yesterday announced it had been awarded a £184m contact to upgrade parts of the M60 and M62 motorways around Manchester, with the aim of increasing capacity, reducing congestion and shortening journey times. Under the contract, around 17 miles of the motorways will be upgraded, and the M60 between junctions 8 and 12 will [...]
Balfour Beatty lands £184m deal to turn M60 and M62 into smart motorways June 19, 2014 Infrastructure company Balfour Beatty has been awarded a £184m motorway scheme to upgrade 17 miles of the M60 and M62 to a smart motorway. At the height of the project 1,000 construction workers will be employed. The upgrade is expected to cut congestion, increase capacity and reduce journey times for motorists. It will be delivered [...]
Balfour Beatty sells stakes in two UK assets to Dalmore for £97m June 2, 2014 INFRASTRUCTURE firm Balfour Beatty yesterday said it is selling its stakes in two public-private partnership (PPP) projects, worth a total of £97m, as part of its disposal strategy to fund future investments. The FTSE 250-listed company, which is searching for a new chief executive, has sold its 50 per cent stake in the University Hospital [...]
Balfour Beatty lands £97m in UK asset sale June 2, 2014 Infrastructure company Balfour Beatty has announced the sale of two UK PPP assets. 50 per cent of its interest in the University Hospital of North Durham and all of its interest in the Knowsley Schools for the Future project will reach a total consideration of £97m, with total gains on the disposal amounting to £51m. [...]
Balfour Beatty lands £188m Heathrow contract May 28, 2014 Infrastructure company Balfour Beatty has won a £188m contract to deliver infrastructure works for Heathrow Airport Limited. The company will work with Heathrow over the next three years to maintain and upgrade terminals 1, 2 and 4. The deal announced today is the first of four new-style framework contracts that have been awarded by Heathrow [...]
Balfour Beatty boss quits after profit warning May 6, 2014 One-fifth was wiped off the share price of Balfour Beatty yesterday, after the infrastructure firm issued its third profit warning in 18 months and said its chief executive was stepping down “with immediate effect”. The FTSE 250-listed company said that while most parts of the group were trading in line with management’s expectations, it expected [...]