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| Balfour Beatty Rail sells UK trackwork manufacturing business Balfour Beatty, the international infrastructure group, announces that Balfour Beatty Rail has agreed to sell its UK trackwork manufacturing business to Progress Rail Services, a wholly-owned subsidiary of Caterpillar Inc. The trackwork business designs and manufactures manganese steel castings, track panels, turnouts and crossings at five sites in the UK. The business generated revenue of £55 million in 2010 and had gross assets of £43 million. Over the last few years, the procurement model has evolved in the provision of core services to our major UK rail clients, eliminating the competitive advantage of owning manufacturing capability and leading to the sale of the business. Balfour Beatty Rail remains committed to its core business as a global, fixed-rail infrastructure contractor. write your comments about the article :: © 2011 Construction News :: home page |