5th Jun 2007 07:01
Balfour Beatty PLC05 June 2007 5 June 2007 BALFOUR BEATTY SECURES OVER $1 BILLION OF NEW US PROJECT WORK ============================================================= Heery expands its capabilities with Miami acquisition ----------------------------------------------------- Balfour Beatty, the international engineering, construction, services andinvestment group, announces today that its US subsidiaries, Balfour BeattyConstruction LLC, Balfour Beatty Infrastructure, Inc. and Heery International,have recently secured new project work with a total value of approximately$1.1 billion. The largest contract, which has been won by Heery International, is the designand build project for a new $230 million Federal Correctional Institutionlocated at Berlin, New Hampshire, for the Federal Bureau of Prisons, a long-termHeery client. One of the largest public works contracts ever undertaken in thestate, the 1,200-inmate medium security institution also includes housing,educational, vocational, healthcare and administration space and is scheduledfor a 37-month design and construction programme. Additionally, Heery International has recently completed the acquisition ofSequeira & Gavarrete, the Miami-based design and architectural projectmanagement firm. In addition to creating a strong South Florida presence, thisacquisition significantly extends Heery's aviation sector expertise. Sequeira &Gavarrete are responsible currently for the programme management for the$2.6 billion North Terminal Development and the $300 million Intermodal CentreRental Car Facility at Miami International Airport. Balfour Beatty Infrastructure, Inc., the Group's US civil engineering arm, hassecured new highways projects near Austin and Houston in Texas and near LosAngeles for the respective State Departments of Transportation, with a totalvalue in excess of $200 million. The largest is for a 10-mile four-lane stretchof highway to connect US 183 and Interstate 35 near Austin, Texas, which isscheduled to commence construction in mid-June. Balfour Beatty Construction LLC (formerly Centex Construction) has won over $540million of new work in the period since its acquisition which was completed onMarch 30th of this year. In the military housing sector, it has recently secured two major new awards forthe US Army. These are for 675 new homes at Fort Jackson in South Carolina and158 new homes at the US Military Academy at West Point in New York in contractsvalued at approximately $200 million. Other recent project announcements include the $180 million Pueblo of Pojoaqueresort and casino, 12 miles north of Santa Fe in New Mexico; the $107 millionVanderbilt University Medical Centre in Nashville, Tennessee; and the$140 million 33-storey Atlantic Centre building in Fort Lauderdale, Florida,that city's first hurricane-resistant building, comprising Class A office spaceand a retail and restaurant complex. Commenting today, Balfour Beatty Chief Executive, Ian Tyler, said: "We have a strong and growing presence, with annual revenues in excess of$3.5 billion, in selected building and infrastructure markets in the US, whichoffer us a variety of high-quality opportunities. We anticipate further growthin our already substantial order book as we continue to build on our wide rangeof proven long-term customer relationships." ENDS Enquiries to:- Tim SharpTel: 020 7216 6884www.balfourbeatty.com Notes to Editors:---------------- 1. Heery International is a 1,000-person architecture, interior design, engineering, facility management, project management and construction management firm responsible for managing nearly $5 billion in construction per year. Heery is recognized annually by US industry publications such as "Building Design & Construction" and "Engineering News Record" as one of the nation's leading firms. 2. Balfour Beatty Construction, based in Dallas, Texas, is one of the US's leading commercial building companies with annual revenues in excess of $2 billion. Its business activities are concentrated in the high-growth states of Texas, Florida and North Carolina and in Washington DC. 3. Balfour Beatty Infrastructure, Inc., based in Atlanta, is a leading civil engineering company with substantial and successful state-based businesses in California and Texas and in tunnelling technology. 4. Balfour Beatty Rail Inc is a national multidisciplinary contractor based in Jacksonville, Florida. 5. 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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