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| Balfour Beatty JV Romec agrees FM contract with Royal Mail Balfour Beatty, the international infrastructure group, and Royal Mail Group announce that their joint venture, Romec Ltd, has agreed a new facilities management contract with Royal Mail Group for a further 10 years. The Romec joint venture, in which Royal Mail Group and Balfour Beatty hold, 51% and 49%, ownership respectively, was established in 2002. Romec provides a wide range of technical and building services to Royal Mail, Post Office and Parcelforce Worldwide buildings, including electrical, plumbing, security and cleaning services, and generates approximately £150m of revenue annually. Under the new services agreement, which will come into effect from April 2011, Romec will provide contracted services to Royal Mail Group worth £0.9bn with further variable scope for works worth up to £0.9bn over the 10-year term. As part of this new agreement Balfour Beatty will acquire Romec Services Limited (RSL), Romec's external trading business which provides mobile engineering and maintenance services to third-party customers such as Sainsbury's, Asda, BBC, British Museum and Camelot. With £36m of facilities management revenue and £13m of gross assets in 2010, RSL will give Balfour Beatty a highly-skilled technical services business with scale and a nationwide footprint which will significantly enhance Balfour Beatty's ability to serve its customers and support the growth plans in this business sector. write your comments about the article :: © 2011 Construction News :: home page |