Balfour Beatty PLC BALFOUR BEATTY'S JOINT VENTURES WITH CARILLION PLC (8688B)
15 January 2018 - 9:16PM
UK Regulatory
TIDMBBY
RNS Number : 8688B
Balfour Beatty PLC
15 January 2018
News Release
15 January 2018
STATEMENT REGARDING BALFOUR BEATTY'S JOINT VENTURES WITH
CARILLION PLC
Balfour Beatty, the international infrastructure group, notes
that Carillion has applied for compulsory liquidation.
Balfour Beatty is in Joint Venture with Carillion on three
projects: the Aberdeen Western Peripheral Route, the A14 in
Cambridgeshire and the M60 Junction 8 to M62 Junction 20
scheme.
Balfour Beatty will continue to work with its customers and will
meet its contractual commitments.
The cash impact to Balfour Beatty is likely to be an outflow in
the range of GBP35 million to GBP45 million in 2018.
The profit impact of Carillion's compulsory liquidation would be
recorded as an exceptional non-underlying charge in the income
statement.
Balfour Beatty does not have any other material financial
exposure to Carillion.
ENDS
Analyst/investor enquiries:
Angus Barry
Tel. +44 (0)20 7216 6824
angus.barry@balfourbeatty.com
Media enquiries:
Louise McCulloch
Tel. +44 (0)20 7216 6846
louise.mcculloch@balfourbeatty.com
Notes to editors:
-- Balfour Beatty (www.balfourbeatty.com) is a leading
international infrastructure group. With 30,000 employees, we
provide innovative and efficient infrastructure that underpins our
daily lives, supports communities and enables economic growth. 4We
finance, develop, build and maintain complex infrastructure such as
transportation, power and utility systems, social and commercial
buildings.
-- Our main geographies are the UK, US and the Far East. Over
the last 100 years we have created iconic buildings and
infrastructure all over the world including the London Olympics'
Aquatic Centre, Hong Kong's first Zero Carbon building, the
National Museum of the Marine Corps in the US and the Channel
Tunnel Rail Link.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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January 15, 2018 05:16 ET (10:16 GMT)
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