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German arm under scrutiny
00:00 08 Sep 1994
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Question marks hang over the future of Mowlem's œ30
million-a-year German construction business.
After losing œ2 million last year, one of the three contracting centres has been closed down - 'it was a bit of a disaster,' admitted group chief executive John Marshall.
A new md has been recruited from Deutschebank, where he was responsible for knocking two former East German contractors into shape.
It looks like he faces the same task again. Of all Mowlem's problem contracting businesses, only Germany continued to make a loss in the first half.
'Clearly we are watching matters with some interest,' says Marshall.
The Texan business - which also suffered a boardroom shake-up after losing œ1 million in 1993 - is breaking even now. And the Australian business is reported to be in profit.
After losing œ2 million last year, one of the three contracting centres has been closed down - 'it was a bit of a disaster,' admitted group chief executive John Marshall.
A new md has been recruited from Deutschebank, where he was responsible for knocking two former East German contractors into shape.
It looks like he faces the same task again. Of all Mowlem's problem contracting businesses, only Germany continued to make a loss in the first half.
'Clearly we are watching matters with some interest,' says Marshall.
The Texan business - which also suffered a boardroom shake-up after losing œ1 million in 1993 - is breaking even now. And the Australian business is reported to be in profit.
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