Balfour Beatty PLC (BBY) - Contract Wins
RNS Number : 4583O
Balfour Beatty PLC
11 October 2012
11 October 2012
BALFOUR BEATTY WATER AND WASTEWATER STRATEGY
DELIVERS CONTRACTS OVER £185 (US$300) MILLION
Balfour Beatty, the global infrastructure group, is on track to realise its
strategic goal to capture a 10% share in its area of the US water and
wastewater market by 2020 after winning a £80 (US$130) million contract with
the Patapsco Wastewater Treatment Plant in Baltimore County, Maryland.
Balfour Beatty has also delivered on the strategic milestone of entering the
Southwest water and wastewater market by winning its first job in Texas - the
£45 (US$74) million, three year contract at the Galveston Main Water and
Wastewater Treatment Plant.
In 2011, Balfour Beatty acquired Fru-Con Construction and these new contracts
highlight how Balfour Beatty has been able to leverage the benefits of the
Fru-Con deal. The Patapsco 845R is the largest value win since the
acquisition in June 2011. It will be Balfour Beatty's third project at the
Patapsco plant, and includes upgrades to the existing plant and the
construction of two major structures: a biological aerated filter building and
a pump station.
Since Fru-Con was acquired, the company has won approximately £185 (US$300)
million in new works directly related to its growth strategy targets. Ian
Tyler, CEO, commented: "This third win with Patapsco is an excellent
achievement. The water and wastewater market is a core strategic vertical
sector for our business, and we are looking to expand our capabilities to also
compete in desalination and design-build projects in the future.
"It is our intention to expand our successful West Coast and East Coast water
and wastewater business into areas of the country which are experiencing high
population growth and increased water demands, for example southern
California, as well as the Southwest and Southeast regions of the US."
The Fru-Con Construction acquisition has provided Balfour Beatty with a
powerful competitive advantage by combining Fru-Con's water and wastewater
specialist skills with Balfour Beatty's local civil knowledge. Balfour
Beatty's strategic plan is to leverage and transfer Fru-Con's water specialist
skills from the mid-Atlantic into its existing civil geographies in the
Southeast and Southwest states of the Carolinas, Georgia, Florida and Texas.
With the Patapsco 845R contract win and the recent geographical expansion into
the Southwest, Balfour Beatty is on target to become a premier performer in
the US water and wastewater market.
Balfour Beatty plc
Tel. 020 7216 6924
Balfour Beatty plc
Tel. 020 7216 6865
Notes to Editors:
Balfour Beatty (www.balfourbeatty.com) is a world-class infrastructure group
with capabilities in professional services, construction services, support
services and infrastructure investments.
We work in partnership with our customers principally in the UK, continental
Europe, the US, South-East Asia, Australia and the Middle East, who value the
highest levels of quality, safety and technical expertise.
Key infrastructure markets include transportation (roads, rail and airports);
social infrastructure (education, specialist healthcare, and various types of
accommodation); utilities (water, gas and power transmission and generation)
and commercial (offices, leisure and retail).
The Group delivers services essential to the development, creation and care of
these infrastructure assets including project design, financing and
management, engineering and construction, and facilities management services.
Balfour Beatty employs 50,000 people around the world.
This information is provided by RNS
The company news service from the London Stock Exchange
CNTUASVRUAARARA -0- Oct/11/2012 06:00 GMT
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