18th Jul 2005 07:00
Balfour Beatty PLC18 July 2005 18 July 2005 MANSELL SECURES FIRST PHASE OF FIVE-YEAR MASTERPLAN CONTRACT FOR NEW ACCOMMODATION AT RAF LAKENHEATH WITH A POTENTIAL VALUE OF £127 MILLION ======================================================================= Balfour Beatty, the international engineering, construction and services group,announces today that its subsidiary, Mansell, the construction and propertyservices company, has been awarded the first construction phase, under amasterplan contract, to redevelop accommodation facilities for United States AirForce staff and their families at RAF Lakenheath in Suffolk. The £14.5 million project has been awarded under the Framework PartneringContract to replace USAF housing stock at Lakenheath with 89 new dwellings. The£1.3 million design work for phases 2 and 3, which will have a combinedconstruction value of £53 million, is already under way, with the entire project(for 606 new dwellings) likely to have an overall value of £127 million oncecompleted. Commenting on this award today, Balfour Beatty Chief Executive, Ian Tyler, said: "Mansell has made excellent progress since it became part of the Balfour BeattyGroup at the end of 2003. Its order book has grown by 35% to £438 million sinceit joined the Group, its position in the fast-growing social housing market hasbeen further strengthened and the work coming through its long-term frameworkagreements with blue chip customers has continued to expand." Mansell's relationship with the USAF goes back to 1945. The US government makesa very substantial investment in the education and training of armed forces andthe very high housing design standards required for its forces serving overseasreflects this. ENDS Enquiries to:Tim SharpTel: 020 7216 6884www.balfourbeatty.com Notes to Editors----------------- 1. Mansell is a specialist construction and building services company withannual sales in excess of £550 million. It was acquired in December 2003 for aconsideration of £42 million. The company serves the social housing, defence,education, interior solutions, airports, telecommunications, heritage and healthmarkets. 2. Mansell recently launched a new brand, "Mansell Partnership Housing", tospearhead its rapidly growing presence in the social housing market. In thismarket, it has a forward framework workload in excess of £300 million. 3. As a member of the Balfour Beatty Group, Mansell is in a position to takeadvantage of substantial opportunities in the PFI market. 4. Balfour Beatty is a world-class engineering, construction and services group,well positioned in infrastructure markets which offer significant growthpotential. Its partnerships with public and private customers generate secure,sustainable income. Its financial position, with significant net cash and withstrong operating cash flows, offers continuing flexibility to add additionalcapacity and expertise to the business mix and to make appropriate investmentsin 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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