Yorkshire rail firm Jarvis facing sell-off
Published Date:
07 May 2008
YORK-based rail and plant company Jarvis has signalled it could be sold as part of a strategic review of the business.
The board of the company is currently looking at its strategic options, a process it said may lead to an offer for Jarvis being made.
However, Jarvis stressed that no talks were taking place with any parties regarding a possible bid for the company.
Once valued at more than £1bn, Jarvis could fetch about £100m.
A newspaper report at the weekend said potential bidders might include fellow contractors Balfour Beatty and First Engineering.
Jarvis survived a financial crisis four years ago by selling off a raft of businesses - including its loss-making construction arm - and carrying out a debt-for-equity restructuring with banks.
It has 4,500 employees and is now focused on rail and plant.
The company's rail business received a boost last year when Network Rail chose it as one of its four preferred renewals firms following a "beauty parade" of six rival companies.
The full article contains 176 words and appears in n/a newspaper.
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Last Updated:
07 May 2008 8:41 AM
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Source:
n/a
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Location:
Leeds
