Balfour Beatty PLC
16 February 2005
16 February 2005
BALFOUR BEATTY WINS NEW £60 MILLION CONTRACT FROM SEVERN TRENT WATER
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Balfour Beatty, the international engineering, construction and services group,
announces today that its subsidiary, Balfour Beatty Utilities, has been
appointed by Severn Trent Water to play a key role in delivering its AMP 4
capital expenditure programme in a contract likely to be worth approximately £60
million.
Commenting on the award today, Balfour Beatty Chief Executive, Ian Tyler, said:
'We are very pleased to be working with Severn Trent Water. This award follows
other recent major contract wins for Anglian Water, Yorkshire Water and
Northumbrian Water and demonstrates the strong capability which Balfour Beatty
can offer the water utility companies. We are benefiting significantly from the
increased spending patterns and more sophisticated requirements of the water
utilities under AMP 4.'
The contract, which will run for five years, is for the delivery of part of
Severn Trent's clean water infrastructure capital expenditure programme. Work
will include maintaining water standard compliance, reducing leakage and
delivering statutory and other improvements in water quality. It will be worth
approximately £12 million per annum.
Mobilisation has now begun, with the construction contract due to run from April
2005 to 2010.
ENDS
Enquiries to:
Tim Sharp
Tel: 020 7216 6884
www.balfourbeatty.com
Notes to Editors
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1. Balfour Beatty Utilities provides a complete asset maintenance and
replacement service for the gas, clean water and waste water sectors,
including investing in design, construction and commissioning.
2. The company was formed in late 2002 by the integration of Kennedy and
Kentons, established utilities contractors acquired by Balfour Beatty in
2001 and 2002 respectively.
3. On 11 February 2005, Balfour Beatty Utilities, in conjunction with Balfour
Beatty Management, won the £380 million contract to replace all the gas
mains in the Greater Manchester area over an initial eight-year period. It
has substantial long-term utility contracts with, amongst others, Anglian
Water, United Utilities, Yorkshire Water and Northumbrian Water.
4. Balfour Beatty is a world-class engineering, construction and services
group, well positioned in infrastructure markets which offer significant
growth potential. Its partnerships with public and private customers
generate secure, sustainable income. 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 Exchange
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