Construction group Kier to jettison Mouchel Consulting
Mon, 04 Jul 2016 | DIVISION SALE
Construction group Kier is gearing up to sell off Mouchel Consulting, after buying it just over a year ago, in a bid to hone in on its own main construction, property and services, Construction Enquirer reported.
Kier bought Mouchel Consulting, an international infrastructure engineering business with about 2,000 consultants and other staff, in April 2015 for £265 million, integrating the business into its own highways and local authority maintenance operations. The newly enlarged group was responsible for maintenance on one-third of the UK's road network.
However, the move to sell came about after Kier boss Haydn Mursell resolved that Mouchel Consulting wasn't a good fit for its in-house design business.
As part of Kier's wider plan to trim operations, it will wind down its Caribbean construction arm (due to difficult trading conditions) for a one-off cost of £18 million.
Meanwhile, in the UK, the group's waste contracts in Chester and in East Sussex are anticipated to be hit by the low oil price and lower returns on recycled waste.
It also bought May Gurney in 2013, and regarding the two purchases said that they have “significantly increased the level of visible, long-term earnings” for Kier's construction and services division.
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