Travis Perkins seals deal for BSS
Aaron Morby | Mon 5th July | 8:48
Builders’ merchant Travis Perkins has agreed to buy BSS Group for £558m to expand its heating and plumbing trade distribution side.
The offer, made up of cash and shares, values each BSS share at 435.8 pence, a 4.7% premium on Friday’s closing price of 416.2p.
Travis Perkins said it believed it could achieve pre-tax savings of at least £25m in 2013 through the deal, which will create the UK’s leading plumbing and heating distribution business.
The two companies have been in “advanced discussions” since May.
Robert Walker, the chairman of Travis Perkins said: “We believe that there is a strong strategic rationale for the acquisition of BSS. We are confident that this transaction can deliver significant value for the shareholders in the enlarged group.”
The deal is backed by BSS directors and major shareholders representing around 35% of BSS’s capital.
Besides Wickes, Travis Perkins owns the City Plumbing and Keyline chains, as well as its own stores.
Travis Perkins competes with Wolseley, which is the biggest building supplies company in the world, Saint-Gobain of France and Irish builders’ merchant Grafton.
Monday, 5 July 2010
Sunday, 4 July 2010
Travis Perkins sales rebound in last 9 weeks
Travis Perkins sales rebound in last 9 weeks
Aaron Morby | Fri 2nd July | 10:11
Builders’ merchant Travis Perkins said sales in the last two months have exceeded management expectations.
The chain has decided to restore shareholder dividends as confidence grows about the outlook.
During the last two months sales at the building materials division were 10% ahead of the same period last year. Margins though were slightly down.
The Wickes-led retail division also faired better in the last 9 weeks, with sales up by 1.6%.
Geoff Cooper, chief executive, said: ”We are pleased with the overall progress the Group has made in the first six months of the year.
“Current trading continues to be ahead of management expectations and we now have the confidence to contemplate recommencing paying dividends.”
Aaron Morby | Fri 2nd July | 10:11
Builders’ merchant Travis Perkins said sales in the last two months have exceeded management expectations.
The chain has decided to restore shareholder dividends as confidence grows about the outlook.
During the last two months sales at the building materials division were 10% ahead of the same period last year. Margins though were slightly down.
The Wickes-led retail division also faired better in the last 9 weeks, with sales up by 1.6%.
Geoff Cooper, chief executive, said: ”We are pleased with the overall progress the Group has made in the first six months of the year.
“Current trading continues to be ahead of management expectations and we now have the confidence to contemplate recommencing paying dividends.”
Friday, 2 July 2010
British Gas to fit free solar panels for schools
British Gas is to spend £15m on solar panels for hundreds of schools.
Under the fresh initiative the company will donate and install solar panels – worth between £20,000 and £40,000 per school – in up to 750 schools.
Each school will be able to generate its own free, green electricity, cutting as much as 20 per cent off its annual electricity bill.
The energy produced by the panels is anticipated to create around £1.3m per year for the next 25 year as a result of the new feed-in tariff arrangements.
British Gas plans to invest this revenue stream in installing solar panels on yet more schools via its Energy For Tomorrow Trust, a ‘not for profit’ trust fund established to invest in low carbon projects in the UK.
This could mean that, in the next five years alone, British Gas could install free solar panels on a total of 1,100 schools.
Schools receiving solar panels will also receive a British Gas smart meter, offering real time information so pupils can see the difference their solar panels are making.
British Gas has already earmarked half of the total investment to ensure that schools in low income areas benefit from the initiative, and intends to deliver the technology to these schools in conjunction with the Government’s Community Energy Saving Programme (CESP).
Phil Bentley, managing director, British Gas, said: ”This is the biggest investment of its kind in solar technology for our nation’s schools, which will help them cut both their carbon emissions and their electricity bills – as well as learn about renewable energy in a hands-on way.
“The electricity generated by these schools will help pay for the scheme to be extended to even more schools throughout the country, which is great news for school leaders, parents and pupils who are all looking for ways to save money during these tough economic times.”
Under the fresh initiative the company will donate and install solar panels – worth between £20,000 and £40,000 per school – in up to 750 schools.
Each school will be able to generate its own free, green electricity, cutting as much as 20 per cent off its annual electricity bill.
The energy produced by the panels is anticipated to create around £1.3m per year for the next 25 year as a result of the new feed-in tariff arrangements.
British Gas plans to invest this revenue stream in installing solar panels on yet more schools via its Energy For Tomorrow Trust, a ‘not for profit’ trust fund established to invest in low carbon projects in the UK.
This could mean that, in the next five years alone, British Gas could install free solar panels on a total of 1,100 schools.
Schools receiving solar panels will also receive a British Gas smart meter, offering real time information so pupils can see the difference their solar panels are making.
British Gas has already earmarked half of the total investment to ensure that schools in low income areas benefit from the initiative, and intends to deliver the technology to these schools in conjunction with the Government’s Community Energy Saving Programme (CESP).
Phil Bentley, managing director, British Gas, said: ”This is the biggest investment of its kind in solar technology for our nation’s schools, which will help them cut both their carbon emissions and their electricity bills – as well as learn about renewable energy in a hands-on way.
“The electricity generated by these schools will help pay for the scheme to be extended to even more schools throughout the country, which is great news for school leaders, parents and pupils who are all looking for ways to save money during these tough economic times.”
British Gas to fit free solar panels for schools
British Gas is to spend £15m on solar panels for hundreds of schools.
Under the fresh initiative the company will donate and install solar panels – worth between £20,000 and £40,000 per school – in up to 750 schools.
Each school will be able to generate its own free, green electricity, cutting as much as 20 per cent off its annual electricity bill.
The energy produced by the panels is anticipated to create around £1.3m per year for the next 25 year as a result of the new feed-in tariff arrangements.
British Gas plans to invest this revenue stream in installing solar panels on yet more schools via its Energy For Tomorrow Trust, a ‘not for profit’ trust fund established to invest in low carbon projects in the UK.
This could mean that, in the next five years alone, British Gas could install free solar panels on a total of 1,100 schools.
Schools receiving solar panels will also receive a British Gas smart meter, offering real time information so pupils can see the difference their solar panels are making.
British Gas has already earmarked half of the total investment to ensure that schools in low income areas benefit from the initiative, and intends to deliver the technology to these schools in conjunction with the Government’s Community Energy Saving Programme (CESP).
Phil Bentley, managing director, British Gas, said: ”This is the biggest investment of its kind in solar technology for our nation’s schools, which will help them cut both their carbon emissions and their electricity bills – as well as learn about renewable energy in a hands-on way.
“The electricity generated by these schools will help pay for the scheme to be extended to even more schools throughout the country, which is great news for school leaders, parents and pupils who are all looking for ways to save money during these tough economic times.”
Under the fresh initiative the company will donate and install solar panels – worth between £20,000 and £40,000 per school – in up to 750 schools.
Each school will be able to generate its own free, green electricity, cutting as much as 20 per cent off its annual electricity bill.
The energy produced by the panels is anticipated to create around £1.3m per year for the next 25 year as a result of the new feed-in tariff arrangements.
British Gas plans to invest this revenue stream in installing solar panels on yet more schools via its Energy For Tomorrow Trust, a ‘not for profit’ trust fund established to invest in low carbon projects in the UK.
This could mean that, in the next five years alone, British Gas could install free solar panels on a total of 1,100 schools.
Schools receiving solar panels will also receive a British Gas smart meter, offering real time information so pupils can see the difference their solar panels are making.
British Gas has already earmarked half of the total investment to ensure that schools in low income areas benefit from the initiative, and intends to deliver the technology to these schools in conjunction with the Government’s Community Energy Saving Programme (CESP).
Phil Bentley, managing director, British Gas, said: ”This is the biggest investment of its kind in solar technology for our nation’s schools, which will help them cut both their carbon emissions and their electricity bills – as well as learn about renewable energy in a hands-on way.
“The electricity generated by these schools will help pay for the scheme to be extended to even more schools throughout the country, which is great news for school leaders, parents and pupils who are all looking for ways to save money during these tough economic times.”
Eric Wright takes £180m Blackpool BSF
Eric Wright takes £180m Blackpool BSF
Aaron Morby | Fri 2nd July | 7:11
Preston-based Eric Wright Group has beaten rival Morgan Sindall in the race to be selected as preferred bidder for Blackpool’s £180m BSF programme.
Education chiefs launched a race against time to sign contracts as fears grew the new Government’s budget cuts would pull the plug on the programme.
Now, with the preferred bidder for the project in place, bosses say they are “quietly confident” enough has been done to see the scheme rubber stamped by Government.
Over the last three weeks, preferred bidders have been selected for £1.1bn of contracts – including a £231m deal for 14 schools in Derby, £270m for 10 schools in Barking and Dagenham, and a £250m contract to refurbish and build 11 schools in Camden, London.
The Government’s announcement of the outcome of its BSF review, due this week, is believed to have been delayed by technical hitches and cross departmental disagreements.
Eric Wright Group together with IT partner Northgate Managed Services are understood to be confident they will get the go-ahead to redevelop eight schools in the area.
David Lund, executive director for Children, Adults & Families Department said: “The Eric Wright Group and its partners have convinced us that it has the vision, determination and capacity to work with us to rebuild and refurbish all of our schools in a way that will make a significant difference to teaching, learning and the future prosperity of Blackpool.”
The first schools to be delivered under the BSF programme will be a new build at Highfield Humanities College together with the extensive remodelling of St Mary’s Catholic College. Work is expected to start this year.
The remaining schools across Blackpool will be delivered over a five-year programme which will see a new build at Palatine Sports College, Beacon High School and Highfurlong Special School as well as remodelled schools at Bispham High School, Collegiate, Montgomery and Park Special School.
Aaron Morby | Fri 2nd July | 7:11
Preston-based Eric Wright Group has beaten rival Morgan Sindall in the race to be selected as preferred bidder for Blackpool’s £180m BSF programme.
Education chiefs launched a race against time to sign contracts as fears grew the new Government’s budget cuts would pull the plug on the programme.
Now, with the preferred bidder for the project in place, bosses say they are “quietly confident” enough has been done to see the scheme rubber stamped by Government.
Over the last three weeks, preferred bidders have been selected for £1.1bn of contracts – including a £231m deal for 14 schools in Derby, £270m for 10 schools in Barking and Dagenham, and a £250m contract to refurbish and build 11 schools in Camden, London.
The Government’s announcement of the outcome of its BSF review, due this week, is believed to have been delayed by technical hitches and cross departmental disagreements.
Eric Wright Group together with IT partner Northgate Managed Services are understood to be confident they will get the go-ahead to redevelop eight schools in the area.
David Lund, executive director for Children, Adults & Families Department said: “The Eric Wright Group and its partners have convinced us that it has the vision, determination and capacity to work with us to rebuild and refurbish all of our schools in a way that will make a significant difference to teaching, learning and the future prosperity of Blackpool.”
The first schools to be delivered under the BSF programme will be a new build at Highfield Humanities College together with the extensive remodelling of St Mary’s Catholic College. Work is expected to start this year.
The remaining schools across Blackpool will be delivered over a five-year programme which will see a new build at Palatine Sports College, Beacon High School and Highfurlong Special School as well as remodelled schools at Bispham High School, Collegiate, Montgomery and Park Special School.
Thursday, 1 July 2010
Bids invited for £60m St Peter’s Square job
Developer Argent is inviting bids to build a 14-storey landmark building that forms part of the St Peter’s Square redevelopment in the heart of Manchester.
Argent is redeveloping the Elisabeth House site in joint venture with owner Greater Manchester Property Venture Fund and has given firms until 19 August to apply to see detailed plans. Tenders will be invited on the 12 October.
Architect Glenn Howells Architects has designed a 270,000 sq ft office building, which will be known as One St Peter’s Square when finished in two and a half years.
The building has designed to achieve a BREEAM ‘excellent’ rating and will incorporate office floorplates of up to 22,500 sq ft.
At ground floor level it will have a mix of uses, with space for public exhibitions, and a big reception with panoramic views across the proposed redeveloped St Peter’s Square, refurbished Central Library and Town Hall extension.
The project team at One St Peter’s Square includes building services consultant Hoare Lea and structural engineers Tier.
The new building is a key feature in the planned £20m remodelling of Manchester’s St Peter’s Square. City centre chiefs hope to transform the landmark square by August 2014.
Plans include pedestrianising it, creating the largest public space in the city, and installing a monument to the Peterloo Massacre.
Further building enhancements, include the Odeon cinema site which will be demolished and rebuilt, and the 1960s Peterloo House to be rebuilt as modern offices. Benmore Developments plans to build a 250-bed fives hotel above the Theatre Royal to complete the restoration of St Peter’s Square.
Argent is redeveloping the Elisabeth House site in joint venture with owner Greater Manchester Property Venture Fund and has given firms until 19 August to apply to see detailed plans. Tenders will be invited on the 12 October.
Architect Glenn Howells Architects has designed a 270,000 sq ft office building, which will be known as One St Peter’s Square when finished in two and a half years.
The building has designed to achieve a BREEAM ‘excellent’ rating and will incorporate office floorplates of up to 22,500 sq ft.
At ground floor level it will have a mix of uses, with space for public exhibitions, and a big reception with panoramic views across the proposed redeveloped St Peter’s Square, refurbished Central Library and Town Hall extension.
The project team at One St Peter’s Square includes building services consultant Hoare Lea and structural engineers Tier.
The new building is a key feature in the planned £20m remodelling of Manchester’s St Peter’s Square. City centre chiefs hope to transform the landmark square by August 2014.
Plans include pedestrianising it, creating the largest public space in the city, and installing a monument to the Peterloo Massacre.
Further building enhancements, include the Odeon cinema site which will be demolished and rebuilt, and the 1960s Peterloo House to be rebuilt as modern offices. Benmore Developments plans to build a 250-bed fives hotel above the Theatre Royal to complete the restoration of St Peter’s Square.
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