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. ENDS Analyst/investor enquiries: Basak Kotler Balfour Beatty plc Tel. 020 7216 6924 Media enquiries: Rebecca Salt 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 END CNTUASVRUAARARA -0- Oct/11/2012 06:00 GMT
Balfour Beatty PLC BBY Contract Wins
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