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| Morgan Sindall to spend £26m on Amec's arms  British builder Morgan Sindall is to acquire UK engineering company Amec's national construction and civil engineering business, Design and Project Services Limited (DPS) and its large-scale, mixed-use urban regeneration business, Amec Developments (ADL). Morgan Sindall, which is paying a total of £26 million for both businesses, will acquire the entire share capital of ADL, a PPP concession and the assets and business of DPS, including all current and future contracts. Amec will retain responsibility for long tail obligations on completed contracts.The acquisitions support Morgan Sindall's stated strategy to develop a market-leading position in its UK construction, affordable housing and infrastructure services divisions. ADL is a UK market leader in securing and delivering 10-15 year, large-scale, mixed-use office, retail, leisure and residential schemes in a long-term growth market. ADL is currently involved in more than 30 mixed-use development projects with a total area in excess of 20 million sq.ft worth £2.5 billion in value. The company's landmark schemes include a £120 million, 150,000 sq.ft retail and residential development at Eastlands in Manchester which includes the UK's largest ASDA Wal-Mart store and the Newcastle Quayside redevelopment, a £40 million pioneering office, hotel, leisure and residential scheme. DPS, which has a revenue pipeline of £800 million and operates in the UK's health, defence, industrial, utilities and transport sectors, employs around 2,800 people at offices in Stratford-upon-Avon, Birchwood (Warrington), Darlington, Ipswich and Renfrew. Following the acquisition, the company's civil engineering, building and design functions will be integrated within Morgan Sindall's construction and infrastructure services divisions. write your comments about the article :: © 2007 Construction News :: home page |