Amey sets up tube services division

Amey has created a new internal division, Amey Tube Services, to better reflect the company’s two-third stake in Tube Lines, the shareholding acquired from Jarvis. 

Accounting for a significant proportion of Amey’s turnover, the investment represents the second largest investment within Amey’s parent, the Ferrovial Group, worldwide.

Amey Tube Services will be headed up by Keith Cottrell, currently managing director of Amey Ventures Investments. 

Cottrell joined Amey in 2002  from the Bank of Ireland, where he was involved in arranging the financing that supported the original Tube Lines deal. Prior to that, he worked at Hyder Investments, where he was involved in the early bidding phase of the Tube Lines project as a co-sponsor.

Mel Ewell, chief executive of Amey, said: "We are now a significant shareholder in one of the most important infrastructure projects in the UK. The creation of Amey Tube Services reflects Amey's strategic approach to PPP and underlines our total commitment to Tube Lines’ objectives regarding the delivery of vital modernisation to the London Underground."