To get the best experience using our site we recommend that you upgrade or switch browsers.Reacting to the report, Stephen Rawlinson, analyst at Whitman Howard, said: “It is of course entirely credible that there could be such interest but it will take a bit more than £2bn to wrest full control of the business and its PPP/PFI investments, in our view.”A Chinese contractor is eyeing a potential £2bn takeover of Balfour Beatty, according to a report in the Sunday Times.Bouygues, Sir Robert McAlpine, and VolkerFitzpatrick have been carrying out the workBalfour Beatty declined to comment.China Civil Engineering Construction Corporation (CCECC) - a subsidiary of China Railway Construction Corporation - has sounded out industry figures and financial advisers about the possibility of bidding for Balfour, according to the report.Birmingham council’s audit committee has given the project a red risk-ratingHowever, Cammack questioned the timing of the bid and the choice of Balfour Beatty - if CCECC is indeed looking to enter the UK market - given half of Balfour’s revenue comes from outside of the UK.CCECC specialises in railways, highways, bridges and housing and also has a strong presence in Africa, including involvement in high profile projects in Nigeria including building four international airports and a high speed coastal railway.UK construction services boss to be replaced with immediate effectMain contractor’s senior site officials say they did not know combustible material was being used to fill gapsCenkos analyst Kevin Cammack commented: “There is no doubt that the Chinese are coming – as evidenced by the civils package award at Swansea Bay and Interserve’s JV win with China State Construction at Nine Elms [One Nine Elms Tower].”China Civil Engineering Construction Corporation exploring approach for UK contractor, according to reportCCECC is part of China Railway Construction Corporation, the second largest contractor in the world, with revenue of $96.3bn, according to the authoratitive ENR global contractor league table.Last week, Swansea Bay Tidal Lagoon announced that another Chinese contractor, China Habour Engineering Company (CHEC), has been awarded a £300m contract to provide marine works on the project - the largest contract awarded on the giant infrastructure development to date.Balfour Beatty, which employs 36,000 people, began implementing a turnaround strategy this year under newly-installed chief executive Leo Quinn, following two years of poor financial performance and profit warningsThe impact of shares plummeting in Shanghai could result in Chinese ambitions turning to the UK construction marketConsultants’ four-year deal with Merseytravel comes amid growing momentum in north of England
31 July 2014 British firms have advantage on world stage, says Turner & Townsend chief. Balfour, which brought Parsons Brinckerhoff, the US professional services group, for $626m in 2009, reported sales of £10.5bn ($17.1bn) for the year to December 31, compared with £10.3bn in 2009. Construction giant Balfour Beatty has joined forces with two universities to develop a building information modelling application. Dongfang 10MW giant powers Chinese grid Offshore wind 'investment jumps 319%' Vattenfall reveals new Swedish offshore plan MHI Vestas bolsters Taiwan supply chain ties.
... Balfour Beatty searches for way ahead after yet another profit warning.