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Balfour Beatty |
| Balfour Beatty plc | |
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| Type | Public (LSE: BBY) |
| Founded | 1909 by George Balfour and Andrew Beatty[1] |
| Headquarters | London, United Kingdom |
| Key people | Steve Marshall, Chairman, Ian Tyler, Chief Executive |
| Industry | Construction, Civil engineering |
| Revenue | £7,488 million (2007)[2] |
| Operating income | £201 million (2007)[2] |
| Net income | £151 million (2007)[2] |
| Employees | 30,000[1] |
| Subsidiaries | Numerous |
| Website | www.balfourbeatty.com |
Balfour Beatty plc (LSE: BBY) is a London-based construction, civil engineering and rail 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. Turnover for the year ended 31 December 2007 was £7,488 million and profits before tax were £157 million.
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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. In 1922 George Balfour and Andrew Beatty established Power Securities to develop and fund hydro-electric projects. By the 1930s the business was operating internationally.
In 1969 Power Securities, which by then owned Balfour Beatty, was taken over by cable manufacturer BICC.[4]
In 2000 BICC, having sold its cable operations, renamed itself Balfour Beatty.[5]
In 2003 Balfour Beatty acquired Mansell plc, another construction services business, for £42m.[6]
In 2006 Balfour Beatty acquired Birse plc, a UK construction & Civils contractor, for £32 m.[7]
In 2007 Balfour Beatty acquired Centex Construction, the commercial construction division of the US builder Centex, for £180m.[8]
In 2007 Balfour Beatty acquired Cowlin Construction, a UK construction company based in Bristol.[9]
In 2008 Balfour Beatty acquired GMH Military Housing, a US-based military accommodation business, for £180m.[10]
In 2008 Balfour Beatty acquired Dean & Dyball, a leading UK regional contractor, for £45 million.[11]
Balfour Beatty were held partly responsible for the Hatfield rail crash which killed 4 people and injured 102 in the year 2000. The cause of the crash was a broken rail, which was identified 21 months before the crash, but hadn't been fixed. Balfour Beatty were fined £7.5 million. In 1999 it was fined £1.2m, a record penalty at the time, over the collapse of a tunnel during construction work at Heathrow Airport.[12]
Balfour Beatty has four business streams:
The company is a 50% shareholder in Gammon Construction, based in Hong Kong.
Projects involving Balfour Beatty include:
The Company is also building the A3 Hindhead Tunnel due to complete in 2011.[25]
A division of Balfour Beatty, the company was formed in November 2007 following the merger of Balfour Beatty Utilities with Balfour Beatty Power Networks. The enlarged company has over 5,200 employees and is one of the UK's largest utilities engineering companies with contracts with some of the biggest utilities companies in the UK. [26]
A division of Beatty, Haden Young Limited is one of the UK's largest mechanical and electrical (M&E) services contractors with an annual turnover of around £200 million. The company, founded in 1816 by George Haden, focuses on heating, ventilation and air-conditioning (HVAC), electrical, plumbing, fire protection, and information technology design, construction and commissioning.[27]
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