11th Sep 2007 07:05
Balfour Beatty PLC11 September 2007 11 September 2007 BALFOUR BEATTY CONFIRMED AS LONG-TERM RENEWALS CONTRACTOR TO NETWORK RAIL ========================================================================= Current responsibilities for renewals across the South East confirmed following------------------------------------------------------------------------------- Network Rail decision to reduce suppliers from 6 to 4 ----------------------------------------------------- Balfour Beatty plc, the international engineering, construction and servicesgroup, is pleased to announce that Network Rail has selected Balfour Beatty Railas one of its four renewals contractors under the new arrangements that havebeen announced this morning. Balfour Beatty Rail will continue to be responsible for plain line and switchesand crossings renewals across the South East, under existing contractualarrangements which run to April 2009. Balfour Beatty has been responsible forthese activities since April 2004 under a contract worth approximately £90million per annum. Commenting on the Network Rail decision, Balfour Beatty Chief Executive IanTyler said: "We are delighted to have our position as one of Network Rail's long-termrenewals contractors confirmed. We look forward to working with Network Rail indelivering value for money and a top quality product in creating a world-classUK rail network." Network Rail Group Infrastructure Director, Peter Henderson, commenting on thedecision said: "Longer-term security for the successful contractors coupled with improvementsin our ability to define and plan the work will enable us to create anenvironment whereby we can all plan with confidence, promote innovation andinvest in equipment and people." ENDS Enquiries to:------------- Tim SharpTel: 020 7216 6884www.balfourbeatty.com Notes to Editors---------------- 1. Balfour Beatty is the world's leading fixed rail infrastructure contractor with operations in over 20 countries, delivering major multi-disciplinary projects, trackwork, electrification and power supply, signalling, specialist plant, track systems and components and maintenance services. 2. Balfour Beatty is responsible for all rail renewal work for the Bakerloo, City and Victoria lines and for the sub-surface lines on the London Underground system. 3. Balfour Beatty, in joint venture, is responsible for the £363 million project to create the new East London line between Dalston Junction in the North and West Croydon in the South - a key part of the transport infrastructure for the 2012 London Olympics. 4. Balfour Beatty is a leading supplier of electrification and power supply services to Network Rail, Deutsche bahn, the Italian and Swedish state railway systems and many other network owners. 5. Balfour Beatty is close to completion of the project to deliver and integrate the rail systems and build and commission the track transit system for Heathrow Terminal 5 for BAA. 6. 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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