Date: Thursday 24 Jul 2008
LONDON (ShareCast) - Engineering and construction firm Balfour Beatty has been awarded a contract worth $410m by the US department of the air force.
Balfour will design, construct and renovate housing units in various air force bases in the US.
Construction will be undertaken by Balfour Beatty Construction US, which is executing all Balfour Beatty Communities' construction work in a programme which stretches to 2015.
"Finalising agreement for this project is a further milestone in confirming Balfour Beatty's leading position in the US PPP Military accommodation market," said chief executive Ian Tyler.
"Balfour Beatty Communities', which we acquired earlier this year, has given us a secure long-term profit and cash flow from a portfolio of high quality concessions," he added.