2nd Aug 2007 07:00
Balfour Beatty PLC02 August 2007 2 August 2007 BALFOUR BEATTY STRENGTHENS BUSINESS MIX WITH THREE NICHE ACQUISITIONS Bolt-on acquisitions completed in rail, professional and technical services and road management ======================================================= Balfour Beatty, the international engineering, construction and services group,announces today that it has completed three niche acquisitions which strengthenits position in the European rail, professional and technical services and roadmanagement and maintenance markets at an aggregated cost of approximately£9 million. Commenting on these acquisitions today, Balfour Beatty Chief Executive, IanTyler, said: "We continue to strengthen our business through acquisition where appropriateopportunities arise. Through these three transactions in market areas where wealready have strong businesses, we have both further improved our marketposition and added to our earnings growth potential." In Sweden, Balfour Beatty Rail has acquired Carillion's Swedish rail contractingcompany. The business, which had 2006 sales of SEK 418 million, has a broadrange of capabilities including in trackwork, electrification and power supply,multi-disciplinary and maintenance projects. The business will be merged withBalfour Beatty's existing multi-disciplinary Swedish rail operations, which wererecently also strengthened by the acquisition of SAAB's Nordic rail signallingand communications operations, and the combined business will be well-placed totake advantage of the significant anticipated growth in the investmentexpenditure of Banverket, Sweden's mainline network owner and operator, as wellas in Norway and Denmark. In the UK, Balfour Beatty's fast-growing professional and technical servicesarm, Balfour Beatty Management (BBM), has acquired the NAP Partnership, based inMiddlesbrough. NAP has annual sales of approximately £6 million and providescost and contract consultancy and project management services to a variety ofclients in the north of England. The acquisition strengthens BBM's presence inthe north of England and broadens the range of services that it can offer inthat region as part of the expansion of its regional service capability. Also in the UK, Balfour Beatty Infrastructure Services (BBIS), the Group's roadmanagement and maintenance arm, has acquired Chris Britton Consultancy, one ofthe UK's leading consulting engineering companies in the highways and pavementmanagement sector. The company offers specialist services relating to pavementengineering, network management and asset management and its acquisition is animportant step in growing BBIS's professional services capability. ENDS Enquiries to:Tim SharpTel: 020 7216 6884www.balfourbeatty.com Notes to Editors---------------- 1. Balfour Beatty's rail business in Sweden is currently working on the major Botniabanan trackwork and electrification contract and track modernisation work on the Blekinge coastline, amongst other projects. Balfour Beatty Rail AB has capabilities in rail electrification and power supply, trackwork, signalling, maintenance and multi-disciplinary projects. 2. Balfour Beatty Management employs approaching 500 professional staff in providing design, programme management, project management and other specialist technical services to major infrastructure owners. Amongst its current major projects are for National Grid in upgrading the electricity and gas networks, Northern Gas Networks and project management for the new Kings Cross Underground Station for the Department for Transport. 3. Balfour Beatty Infrastructure Services is a leading UK road management and maintenance company. Amongst its major clients are the Highways Agency, for whom it manages the strategic road network in the south of England from the Channel Tunnel to the West Country, and a number of regional and local authorities, including North Yorkshire, Hampshire, Essex, North West Scotland and the City of Westminster in London. 4. Balfour Beatty is a world-class engineering, construction, services and investment business, well positioned in infrastructure markets which offer significant long-term growth. We work in partnership with sophisticated customers who value the highest levels of quality, safety and technical expertise. Our skills are applied in appropriate combinations to meet individual customer need. Its financial position, with significant net cash and with strong operating cash flows, offers continuing flexibility to add additional capacity and expertise to the business mix and to make appropriate investments in PPP and other long-term growth opportunities. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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