Balfour Beatty
 | |
| Company type | Public (LSE: BBY) |
|---|---|
| ISIN | GB0000961622  |
| Industry | Construction, all major sub branches of engineering in contracting and consulting |
| Founded | 1909 by George Balfour and Andrew Beatty[1] |
| Headquarters | London, England,UK |
Key people | Steve Marshall, Chairman, Ian Tyler, Chief Executive |
| Revenue | £9,486 million (2008)[2] |
| £230 million (2008)[2] | |
| £196 million (2008)[2] | |
Number of employees | 30,000[1] |
| Subsidiaries | Numerous |
| Website | www.balfourbeatty.com |
Balfour Beatty plc (LSE: BBY) is a London-based construction, engineering, rail and investment services company. It is one of the largest construction companies in the UK, and the 15th largest in the world.[3] It is a constituent of the FTSE 250 Index.
Balfour Beatty undertakes projects around the world, but the majority of its turnover comes from the UK.
History
Balfour Beatty was founded in 1909 by George Balfour, a Scottish mechanical engineer, and Andrew Beatty, an English chartered accountant: they described the company as "general and electrical engineers, contractors, operating managers for tramways, railways and lighting properties and for the promoting of new enterprises" and soon it expanded into civil engineering.[4] In 1922 George Balfour and Andrew Beatty established Power Securities to develop and fund hydro-electric projects.[4] By the 1924 the business was operating internationally.[4]
In 1969 Power Securities, which by then owned Balfour Beatty, was taken over by cable manufacturer BICC.[5] Then in 2000 BICC, having sold its cable operations, renamed itself Balfour Beatty.[6]
More recently Bafour Beatty has embarked on a series of acquisitions including Mansell plc, another construction services business, for £42m in 2003,[7] Birse plc, a UK construction & Civils contractor, for £32 m in 2006,[8] Centex Construction, the commercial construction division of the US builder Centex, for £180m in 2007[9] and Cowlin Construction, a UK construction company based in Bristol also in 2007.[10]
In 2008 the Company bought GMH Military Housing, a US-based military accommodation business, for £180m[11] and Dean & Dyball, a leading UK regional contractor, for £45 million.[12]
In September 2009 the Company announced an intention to buy Parsons Brinckerhoff, a US-based project management firm, for $626 million.[13]
Operations
Balfour Beatty has four business streams:
- Building, Building Management and Services
- Civil and Specialist Engineering and Services
- Rail Engineering and Services
- Investments
Balfour Beatty has capabilities in construction, civil engineering contracting and consulting, mechanical and electrical engineering, electronics, systems and control engineering, chemical/materials engineering as well as project management and long term investment services.
The company is a 50% shareholder in Gammon Construction, based in Hong Kong.
Major projects
Projects involving Balfour Beatty include:
- The Kielder Dam, Northumberland, 1982[14]
- The Docklands Light Railway in London, 1985[15]
- Large parts of the M25 motorway around London, 1986[16]
- The Channel Tunnel, 1994[17]
- The Cardiff Bay Barrage, 1999[18]
- The Lesotho Highlands Water Project, 2002[19]
- Nam Cheong Station, Hong Kong, 2003[20]
- The Pergau Dam hydroelectric project in Malaysia, 2003[21]
- The M6 Toll, 2003[22]
- University College London Hospital, 2005[23]
- Igor I. Sikorsky Memorial Bridge, Connecticut, U.S.A., 2006[24]
- Burj Mall, Dubai, 2008[25]
- The Birmingham Super Hospital near Selly Oak, Birmingham due to complete in 2010[26]
- The A3 Hindhead Tunnel due to complete in 2011.[27]
References
- ^ a b Balfour Beatty. "Key Facts". Retrieved 2007-03-23.
- ^ a b c Balfour Beatty (5 March 2009). "Preliminary results for the year to 31 December 2008" (PDF). Retrieved 2009-03-06.
- ^ Digital Look. "Balfour Beatty". Retrieved 2007-03-23.
- ^ a b c Balfour Beatty: History
- ^ Notes on Financial Times Actuaries Index 1969
- ^ Shake-up will see BICC change to Balfour Beatty
- ^ Balfour Beatty set to buy Mansell
- ^ Balfour Beatty issues notice to Birse shareholders
- ^ Balfour Beatty pays £180 for US builder
- ^ "About us". Cowlin Construction. Retrieved 2008-07-06.
- ^ Balfour Beatty targets $350m US military deal
- ^ Balfour Beatty buys Dean & Dyball for £45m
- ^ Britain's Balfour Beatty unveils $626 mln U.S. buy
- ^ Structure information
- ^ Docklands Light Railway Official Handbook, Stephen Jolly and Bob Bayman (1986) ISBN 0 904711 80 3
- ^ Motorway Archive - M25
- ^ Channel Tunnel on Structurae database
- ^ Cardiff Bay Barrage Report
- ^ Corner House
- ^ Government of Hong Kong Environmental Protection Department
- ^ Turkish Dam gets UK Support
- ^ Motorway Archive - M6 Toll
- ^ University College London Hospital wins award
- ^ New bridge wins praise
- ^ Balfour Beatty website: Burj Mall Dubai
- ^ Long winding road to new super-hospital
- ^ Mott McDonald