NEWSBRIEF

castleoak takes chessman, direct

Castleoak, a privately owned construction company based in Cardiff, has acquired two new businesses. They are Chessman Consulting, a quantity surveying and project management consultancy, and Direct Electrical Factors, an electrical distributor and retailer. Chairman Mel Knight expects Castleoak's turnover to hit £25 million in the current financial year.

soarsett bought out by nevill long

Soarsett, a distributor of suspended ceilings and partitioning systems, has been bought by Nevill Long which sells similar products. Soarsett's £3 million turnover last year produced a pre-tax profit of £57,000. Nevill Long is part of the James Latham group, suppliers of timber and building materials. Soarsett operates from Preston, Manchester and Washington in Tyne and Wear.

Universal buys up asfare from Amey

Universal Construction Services has bought Asfare from Amey. Mark Eustace, finance director, said UCS would merge Asfare with its National Road Planing (NRP) division to create the largest specialised planing operation in the UK with an annual turnover of £6.5 million.

kvaerner worries of weakening position

A critical review between Kvaerner and its external auditors has prompted the Anglo-Norwegian conglomerate to warn of a weakening in its position "primarily caused by provisions taken for anticipated losses on certain projects and a need for the write-down of assets." A Kvaerner spokesman declined to say whether or not the problem projects are in Kvaerner's construction division.

railtrack project director appointment

Ian McPherson has been appointed project director for Railtrack's £2.2 billion West Coast Main Line modernisation. He was previously a director on the Kowloon-Canton Railway Corporation in Hong Kong with responsibilities for all aspects of the £5 billion West Rail project.