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Construction News
The latest Construction company and industry news with expert analysis from the Financial Times on FT.com
Updated: 2 hours 56 min ago
Early investor in Asia rings the changes
The Kuwait China Investment Company is rebranding to aid its expansion into Asian nations and to lure more Gulf wealth to the ‘New Silk Road’
Holcim
Swiss cement maker cannot be accused of underplaying its ambitions with its promise to bolster operating profits by at least SFr1.5bn by the end of 2014
UK construction sector braced for pain
Government cuts and delayed commercial projects point to harsh times ahead for building companies, with no recovery predicted until at least 2014
Travis Perkins shrugs off rain disruption
Revenue of the building materials group rises 4.4% in the first four months of the year, boosted by its acquisition of rival Toolstation
Constructing rewards out of risk
After striking out in Russia, Turkish construction magnate Erman Ilicak has thrived in markets others have avoided, writes Daniel Dombey
Endless buys Bathstore for £15m cash
Wolseley sells its UK bathroom retailer to turnround group, which will also invest £11m in new equity capital
Mittal sounds cautiously optimistic note
Head of world’s largest steelmaker says he sees more confidence in number of key markets and upturn in North America
CRH to build on stake in China
The Irish building materials group is pushing into emerging markets as bad weather in Europe and volatility from the eurozone crisis dent earnings
Futures veteran to lead ICAP in Dubai
The world’s largest interdealer broker appoints Sharaz Hussain to run team aiming to capitalise on growing investor activity in the region
Holcim echoes improving conditions
World’s biggest cement company by sales says demand in Asia and Latin America continues to grow while there are signs of an upturn in North America
ACS’s net debt increases to €10.4bn
ACS enjoyed explosive growth during the years of Spain’s construction boom, but was left saddled with billions of euros of debt
Builders pricing jobs too low, says Wates
Below-cost trend is unsustainable and invites trouble, says head of family-owned construction business
Martin Marietta censured over Vulcan move
Landmark ruling for M&A cases finds that hostile bid for Vulcan violated non-disclosure agreements
BG agrees $1.8bn sale in Brazil
UK group to sell majority stake in Brazil’s largest gas distribution company for $1.8bn as it pursues a multibillion-pound investment plan
UK services sector growth slows
Survey shows the UK services industry continued to grow in April but at a slower pace than in recent months, suggesting a ‘soft start’ to second quarter
Barrick Gold makes earnings shine
A jump in average selling price to $1,691 an ounce, saw revenues at the Canada-based miner jump from $3.09bn to $3.6bn in three months to March 31
Anglo and Lafarge must sell cement plants
UK’s Competition Commission seeks to curb consolidation in industry by requiring disposals as a condition of approval of £1.8bn merger
Construction training body faces spin-off
Plans to shift the quango from the public sector are increasing fears of skill shortages as the industry faces its toughest downturn in decades
Princess Yachts puts ex-naval dockyard to use
Boatbuilder, part of French group LVMH, sets up shop at Plymouth’s former MoD facility as demand grows worldwide for luxury yachts
Construction companies fight to win work
With the industry in recession for third time since 2008, the chief of Bam Construct UK said ‘suicide bids’ were being made to win contracts