Last checked at 15 Jan 2018 10:16
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 £35 million to £45 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 BarryTel. +44 (0)20 7216 6824angus.barry@balfourbeatty.com
Media enquiries:
Louise McCullochTel. +44 (0)20 7216 6846louise.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.