Galliford Try PLC Joint Venture with Carillion plc (8812B)
January 15 2018 - 5:04AM
UK Regulatory
TIDMGFRD
RNS Number : 8812B
Galliford Try PLC
15 January 2018
15 January 2018
Galliford Try plc
Joint Venture with Carillion plc
Galliford Try plc (the "Group") notes the announcement by
Carillion plc this morning. The Group is in joint venture with
Carillion and Balfour Beatty on the GBP550 million Aberdeen Western
Peripheral Route contract. The terms of the contract are such that
the remaining joint venture members, Balfour Beatty and Galliford
Try, are obliged to complete the contract. Our current estimate of
the additional cash contribution outstanding from Carillion to
complete the project is GBP60-80 million, of which any shortfall
will be funded equally between the joint venture members.
The companies will discuss the position urgently with the
Official Receiver of Carillion and Transport Scotland, to minimise
any impact on the project.
Galliford Try has no other significant contracts or projects
with Carillion.
The Group will announce its Half Year Results on 14 February
2018.
For further enquiries please contact:
Galliford Try
Peter Truscott, Chief Executive 01895 855001
Graham Prothero, Finance Director
Tulchan Communications
James Macey White 020 7353 4200
Martin Pengelley
Elizabeth Snow
Notes to editors
Galliford Try is listed on the London Stock Exchange and is a
member of the FTSE 250. Housebuilding - through our Linden Homes
business - develops private and affordable homes in prime
locations. Galliford Try Partnerships - our regeneration business -
delivers mixed-tenure solutions working with housing association,
local authority and private sector partners. Operating as Galliford
Try and Morrison Construction, our Construction business carries
out building and infrastructure projects with clients in the
public, private and regulated sectors. At the end of the last
financial year to 30 June 2017, the Group generated revenue of
GBP2.8 billion.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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