Carillion

UK construction firm Carillion collapses

London - Muslimchronicle

British construction group Carillion announced its immediate liquidation Monday after the heavily-indebted company failed to secure a financial rescue from the UK government and banks in last-ditch talks. Carillion, which employs 43,000 staff worldwide including 19,500 in Britain, said that the government would nevertheless provide some funding to allow current state projects to continue, following crunch talks over the weekend. Analysts warnedRead more

UK govt keeps 'close eye' on struggling firm Carillion

London - Muslimchronicle

The British government is keeping a "very close eye" on construction and outsourcing group Carillion, a senior minister said Sunday, amid reports it could go into administration within days and critics questioning the government's own role in the crisis. "Hopefully they will be able to work with their partners to get the working capital they need to continue providing important services,"Read more

British builder Carillion names former BAE executive as CEO

Bengaluru - Muslimchronicle

British builder Carillion, which has issued two profit warnings this year, named Andrew Davies as its chief executive on Friday, bringing in a former executive of defense company BAE Systems to help turn around its business. Davies, currently head of family-owned builder Wates Group, will take over from interim CEO Keith Cochrane on April 2, Carillion said. The appointment comesRead more

UK contractor Carillion warns on full-year results, makes further provision

Bengaluru - Muslimchronicle

British construction and support services group Carillion said on Friday it expects full-year results to be lower than market forecasts, as it booked a further provision relating to services contracts. “This is a disappointing set of results which reflects the issues we flagged in July and the additional 200 million pound provision for our Support Services business that we haveRead more

Britain’s Carillion lifted by Middle East bid report

London - Muslimchronicle

Takeover speculation drove Carillion shares almost 20 percent higher on Wednesday after a London newspaper reported that a Middle Eastern firm was preparing a bid for the struggling construction and support services company. A spokeswoman said Carillion did not comment on “market speculation” in response to a City A.M. report on Tuesday which said a Middle Eastern construction group plannedRead more