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Carillion buys into Swede rail
16:32 11 Jun 2003
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Carillion has bought Swedish Rail Systems Entreprenad (SRSE) from
Heidelberg Cement Northern Europe for £6.2m.
SRSE owns rail contractors in Sweden, Norway, Denmark and Finland and employs about 250 people. All the businesses will now trade under the Carillion name.
Carillion chief executive John McDonough said: "In order to expand our rail business beyond the UK maintenance and projects markets, we are actively targeting the European rail market.
"The acquisition of SRSE opens up new growth opportunities in Sweden and the wider Nordic market. It follows recent moves by rail authorities in Scandinavia to open these markets to wider private sector participation and to introduce greater competition."
McDonough estimated the Scandinavian market to be worth £8.1bn in the next 10 years. The Swedish government outsources 18% of the total rail workload, but wants to increase this to 100% by 2007.
SRSE owns rail contractors in Sweden, Norway, Denmark and Finland and employs about 250 people. All the businesses will now trade under the Carillion name.
Carillion chief executive John McDonough said: "In order to expand our rail business beyond the UK maintenance and projects markets, we are actively targeting the European rail market.
"The acquisition of SRSE opens up new growth opportunities in Sweden and the wider Nordic market. It follows recent moves by rail authorities in Scandinavia to open these markets to wider private sector participation and to introduce greater competition."
McDonough estimated the Scandinavian market to be worth £8.1bn in the next 10 years. The Swedish government outsources 18% of the total rail workload, but wants to increase this to 100% by 2007.
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