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NEWSBRIEF
00:00 28 Jun 2000
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Financial close reached on GCHQ
Carillion and its partners, Group 4 and BT, have reached financial close on the project to build a new Government Communications Headquarters in Cheltenham under the UK's PFI. Carillion will build the new GCHQ in a three-year contract worth £330m and be responsible for the maintenance work over a 30-year concession period worth around £40m.
Kier Anglia wins £10m hospital job
Kier Anglia, part of the group's regional contracting network, has been awarded a design and construct contract for a new £10m ward block at Basildon Hospital in Essex. The 1,858m2 development, which includes eight wards on two storeys designed around two internal courtyards, will be completed in autumn 2002.
Bidders revealed for £10m supermarket
Carillion and Clugston remain as the final contenders for the construction of a £10m Morrison supermarket at Jarrow on Tyne & Wear. Both bidders have had priced bills called by Leeds quantity surveyor Rex Proctor in advance of a 10 July planned on-site start.
Bids invited for hospital redevelopment
Manchester Children's Hospital and Central Manchester Health Care NHS Trust is inviting firms to tender for its £250m redevelopment programme. The programme includes a new £100m children's hospital for Greater Manchester. The deadline for expressions of interest is 4 August. The Trust will select a shortlist of six from which three will be invited to negotiate further.
Cleveland completes £8.3m mbo
Cleveland Bridge has completed its £8.3m management buy-out from Kvaerner. The deal involves only the UK and Malaysian operations. A second negotiation for Cleveland Bridge's Middle East business, based in Dubai, is under way. This transaction is expected to be completed in a month's time.
Wolseley chief bows out
John Young, chief executive of Wolseley, has decided to take early retirement. He underwent a back operation earlier this year. Since Young joined the board in 1982, the group has lifted profits from £11m to £300m in 1999, turnover soaring from £220m to £5bn in the same period. Richard Ireland, chairman, takes over pending the appointment of a successor to Young.
Loxam buys aerial platforms firm for £24mFrench hirer Loxam, Europe's largest rental company, has bought PTP Aerial Platforms from Rentokil-Initial Services Group for £23.8m. In a surprise swoop, this is Loxam's first foray into the UK, although it has operations in France, Germany, Switzerland and Belgium. John Gordon will stay as PTP managing director after the take-over is completed. Last year, PTP turned over £18.2m and showed an operating profit of £3.5m, while Loxam had a group turnover of £220m with the majority of it coming from France.
Inflation pushes up the cost of building
Inflationary pressures are hitting the building industry as construction tender prices outpace inflation, according to the Royal Institution of Chartered Surveyors latest tender price index. Tender prices for the first three months of 2000 rose by 1.3% compared with the previous quarter and by 6.1% compared to the same period last year. Tender prices are also expected to rise over the next two years reflecting mounting labour and materials costs coupled with moderate demand for new work.
Carillion and its partners, Group 4 and BT, have reached financial close on the project to build a new Government Communications Headquarters in Cheltenham under the UK's PFI. Carillion will build the new GCHQ in a three-year contract worth £330m and be responsible for the maintenance work over a 30-year concession period worth around £40m.
Kier Anglia wins £10m hospital job
Kier Anglia, part of the group's regional contracting network, has been awarded a design and construct contract for a new £10m ward block at Basildon Hospital in Essex. The 1,858m2 development, which includes eight wards on two storeys designed around two internal courtyards, will be completed in autumn 2002.
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Bidders revealed for £10m supermarket
Carillion and Clugston remain as the final contenders for the construction of a £10m Morrison supermarket at Jarrow on Tyne & Wear. Both bidders have had priced bills called by Leeds quantity surveyor Rex Proctor in advance of a 10 July planned on-site start.
Bids invited for hospital redevelopment
Manchester Children's Hospital and Central Manchester Health Care NHS Trust is inviting firms to tender for its £250m redevelopment programme. The programme includes a new £100m children's hospital for Greater Manchester. The deadline for expressions of interest is 4 August. The Trust will select a shortlist of six from which three will be invited to negotiate further.
Cleveland completes £8.3m mbo
Cleveland Bridge has completed its £8.3m management buy-out from Kvaerner. The deal involves only the UK and Malaysian operations. A second negotiation for Cleveland Bridge's Middle East business, based in Dubai, is under way. This transaction is expected to be completed in a month's time.
Wolseley chief bows out
John Young, chief executive of Wolseley, has decided to take early retirement. He underwent a back operation earlier this year. Since Young joined the board in 1982, the group has lifted profits from £11m to £300m in 1999, turnover soaring from £220m to £5bn in the same period. Richard Ireland, chairman, takes over pending the appointment of a successor to Young.
Loxam buys aerial platforms firm for £24mFrench hirer Loxam, Europe's largest rental company, has bought PTP Aerial Platforms from Rentokil-Initial Services Group for £23.8m. In a surprise swoop, this is Loxam's first foray into the UK, although it has operations in France, Germany, Switzerland and Belgium. John Gordon will stay as PTP managing director after the take-over is completed. Last year, PTP turned over £18.2m and showed an operating profit of £3.5m, while Loxam had a group turnover of £220m with the majority of it coming from France.
Inflation pushes up the cost of building
Inflationary pressures are hitting the building industry as construction tender prices outpace inflation, according to the Royal Institution of Chartered Surveyors latest tender price index. Tender prices for the first three months of 2000 rose by 1.3% compared with the previous quarter and by 6.1% compared to the same period last year. Tender prices are also expected to rise over the next two years reflecting mounting labour and materials costs coupled with moderate demand for new work.
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