Amec moves from hunted to hunter
Article Abstract:
UK construction giant Amec has undergone a transformation in the year from November 1995 when Kvaerner made a takeover bid for the company. Amec's shareholders were persuaded to reject the bid with the promise of improved performance. New chief executive Peter Mason went on to make changes in parts of the company and to work on a strategic review of the whole operation. In October 1996 he announced the intention of buying a 40% stake in Spie Batignolles, the French construction group. The companies would together be the 7th biggest contractor in Europe.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1996
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Mowlem to spurn late-paying clients
Article Abstract:
Mowlem's construction division saw an operating loss in the first half of 1996, with construction turnover falling 13% to 466 million pounds sterling. The company hopes to increase average construction margins to 2-3%, and is prepared to allow turnover to fall in order to reach this target. It is also set to sever links with clients which take a confrontational approach or fail to pay on time. It is determined to work with clients who are prepared to pay for a quality service.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
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