Amec Foster Wheeler is to collaborate with China Nuclear Engineering & Construction (Group) Corporation (CNEC) on the next generation of reactors. The wide-ranging agreement with the Chinese nuclear power plant constructor covers potential collaboration in the nuclear industry. It is the first time CNEC has agreed to collaborate with a
Value of work in progress 4% higher than the same quarter in 2014 Architecture profession in positive territory despite dip in workload and staffing indices The RIBA Future Trends Workload Index fell a little further in October 2015, standing at +18 (down from +21 in September). This suggests
The chancellor’s Autumn Statement has revealed that the government is set to invest over £1 billion into upgrading the UK’s road network to improve road congestion. Philip Hammond will commit to spending over £1.3 billion to help ease congestion on the country’s roads. Included in this investment is £1.1 billion
Construction firm Willmott Dixon has set up a new Farnborough office as it hopes to generate a £100 million pipeline of work in the next four years in Dorset, Berkshire, Wiltshire and Hampshire. The group said its base at the Farnborough Business Park, which is home to 25 members of
In her first address to the CBI Annual Conference later today, Prime Minister Theresa May is to reveal a £2 billion annual research boost, as part of the government’s Industrial Strategy. It is being suggested that May will use her speech to outline the ways her government will step up
Facilities management group Mitie has delivered a further profit warning and has moved away from the care business. Along with reporting a slide into losses in the first half and cutting its dividend, Mitie said that the second half of the year should see an improvement. However, the full year
Warrington contractor Morris & Spottiswood has acquired Cumbrian maintenance specialist LLED Construction into its maintenance division for an undisclosed fee. The North West fit out company, which has a reported turnover of £88 million, bought-out founding owner Dee Addison, who will carry on working in his role as the principal
Warwickshire based civil engineering firm O’Brien Contractors has secured a contract to begin working on the development of a major new factory complex in Staffordshire. Readie Construction has signed the firm up to work on the £126.3 million construction of the new Gestamp site at Bericote Properties’ Four Ashes Park
Recently, it was announced that US behemoth Atas Residential had forged a build-to-rent venture in conjunction with Wildheart Residential management in the UK. This marks the American firms’ first major push into the British marketplace, while also showcasing the potential that currently exists in the buy-to-rent sector. This is an
Amec Foster Wheeler is to collaborate with China Nuclear Engineering & Construction (Group) Corporation (CNEC) on the next generation of reactors. The wide-ranging agreement with the Chinese nuclear power plant constructor covers potential collaboration in the nuclear industry. It is the first time CNEC has agreed to collaborate with a global engineering consultancy on the deployment of high-temperature reactors in the UK and internationally. “High-temperature reactors have great potential to provide safe, clean and sustainable energy for the future,” said Tom Jones, vice president of Amec Foster Wheeler’s Clean Energy business. “We hope that our collaboration with CNEC will help the UK and China to realise the potential benefits of this tremendously important technology.” Zu Bin, vice president of CNEC said: “The high-temperature gas cooled reactor is inherently safe and can generate electricity efficiently and competitively for power generation, heat supply and desalination.” The agreement was signed in Beijing as part of a nuclear industry trade mission organised by UK Trade & Investment and the China-Britain Business Council. Amec Foster Wheeler and CNEC have committed themselves to work together to develop opportunities in nuclear power development, construction, operation and decommissioning projects globally. They will also identify specialist knowledge that each can contribute towards reactor outage management, operation, ageing management, lifetime extension and upgrading of existing units. The scope of the agreement also covers training, waste management and decommissioning. It is expected that CNEC will make use of Amec Foster Wheeler’s new High-Temperature Facility in the UK, which will carry out research and testing on materials capable of withstanding temperatures of up to 1,000°C. This article was published on 8 Apr 2016 (last updated on 8 Apr 2016). Source link
Value of work in progress 4% higher than the same quarter in 2014 Architecture profession in positive territory despite dip in workload and staffing indices The RIBA Future Trends Workload Index fell a little further in October 2015, standing at +18 (down from +21 in September). This suggests that practices are now more cautious than they were during 2014 and the first part of 2015. All nations and regions in the UK nonetheless returned positive balance figures. In October 2015, practices in Northern Ireland (balance figure +25) were most optimistic about medium term workload growth; in the Midlands and East Anglia (balance figure +12) there is a greater sense of a temporary peak being reached. Large practices (51+ staff, balance figure +57) are significantly more optimistic about future prospects than either medium-sized (11–50 staff, balance figure +17) or small practices (1–10 staff, balance figure +16). The private housing sector workload forecast rebounded further in October, rising to +25 (up from +21 in September). The community sector forecast also saw a modest rise, standing at +3 (up from +1 in September). Meanwhile, the commercial sector workload forecast fell to +7 (down from +13 in September); the public sector workload forecast was unchanged at –3. The survey also showed that the value of work in progress is 4% higher than in the same quarter in 2014. The RIBA Future Trends Staffing Index fell back somewhat this month to +9 (down from +12 in September). Nevertheless the Staffing Index remains in positive territory. Large practices (balance figure +29) were more optimistic about future staffing levels, compared with medium-sized (balance figure +4) and small practices (balance figure +9). Participating practices report that they are now employing 3% more staff than this time last year. RIBA Executive Director Members Adrian Dobson said: “The market for architectural services remains buoyant, but with a clear sense that there has been something of a slowdown in the overall pace of growth in the last few months. “The 4% increase in the value of work in progress, compared with the equivalent quarter in 2014, shows a continuing very healthy rate of annual growth. This is nevertheless a step down from the rates of 8–10% that we saw consistently throughout 2014 and early 2015, and shows some cooling in the overall market for architectural services. “Mirroring the trend in the Workplace Index, the RIBA Future Trends Staffing Index also declined this month; our practices are now sounding something of a note of caution about future staffing levels. Still, there continues to be plenty of anecdotal evidence of practices having difficulties recruiting staff with the levels of skills and experience that they are looking for.” ENDS Notes to editors: For further press information contact Howard Crosskey in the RIBA press office: howard.crosskey@riba.org 020 7307 3761 The Royal Institute of British Architects (RIBA) champions better buildings, communities and the environment through architecture and our members. Visit www.architecture.com Follow @RIBA on Twitter for regular updates www.twitter.com/RIBA Completed by a mix of small, medium and large firms based on a geographically representative sample, the RIBA Future Trends Survey was launched in January 2009 to monitor business and employment trends affecting the architects’ profession. The Future Trends Survey is carried out by the RIBA in partnership with the Fees Bureau. Results of the survey, including a full graphical analysis, are published each month at: http://www.architecture.com/RIBA/Professionalsupport/FutureTrendsSurvey.aspx To participate in the RIBA Future Trends Survey, please contact the RIBA Practice Department on 020 7307 3749 or email practice@riba.org. The survey takes approximately five minutes to complete each month, and all returns are independently processed in strict confidence The definition for the workload balance figure is the difference between those expecting more work and those expecting less. A negative figure means more respondents expect less work than those expecting more work. This figure is used to represent the RIBA Future Trends Workload Index, which for October 2015 was +18 The definition for the staffing balance figure is the difference between those expecting to employ more permanent staff in the next three months and those expecting to employ fewer. A negative figure means more respondents expect to employ fewer permanent staff. This figure is used to represent the RIBA Future Trends Staffing Index, which for October 2015 was +9 Posted on Thursday 26th November 2015 Source link
The chancellor’s Autumn Statement has revealed that the government is set to invest over £1 billion into upgrading the UK’s road network to improve road congestion. Philip Hammond will commit to spending over £1.3 billion to help ease congestion on the country’s roads. Included in this investment is £1.1 billion for the upgrade of local roads and a further £220 million for Highways England to tackle “pinch points” on the motorways and major A-road throughout England. Previously, the treasury said that road congestion is costing the UK economy £13 billion each year and that 100 million working days may be lost by 2040 unless action is taken immediately. One of the projects set to take place is the £27 million expressway that will connect Cambridge, Oxford and Milton Keynes, which was recommended by the National Infrastructure Commission in last week’s report into East-West transport links. This was the first part of infrastructure spending that was announced by the government as part of the Autumn Statement. Reports have suggested that the chancellor may borrow £15 billion to go towards energy, rail, road and other infrastructure schemes. In September, the chancellor told MPs that the government would focus on “modest and rapidly deliverable investments” as part of the Autumn Statement. Mr Hammond said: “By investing in our national infrastructure and skills, we can do even better than before; we can improve our historically low levels of productivity and up our game even more. “For too long, taxpayer-funded investment hasn’t been sufficiently targeted on generating economic returns for the country. On my watch, it will be.” Days before the Autumn Statement was released, Hammond said that the UK economy must be “watertight” to cope with “sharp” challenges ahead of Brexit. Hammond refused to be drawn on his plans, but stressed economic “credibility” was key.
Construction firm Willmott Dixon has set up a new Farnborough office as it hopes to generate a £100 million pipeline of work in the next four years in Dorset, Berkshire, Wiltshire and Hampshire. The group said its base at the Farnborough Business Park, which is home to 25 members of staff, will now serve as a platform to grow and as a gateway to the four counties. This will allow Willmott Dixon to “pursue an increase in construction opportunities”. Deputy Managing Director for Willmott Dixon’s construction business in the southern counties, Richard Poulter, will also be based at the new office. Among the company’s notable projects in the area are: a new campus hub at Bournemouth University, Hart Leisure Centre in Fleet, Chippenham Campus for Wiltshire College, the mixed-use Centenary Quay development in Southampton, Warfield Primary School in Bracknell and Urban Village hotel in Portsmouth. Poulter commented: “We are seeing a surge of activity, both in the public and private sectors across the region, so Farnborough is an ideal location to open a new office. “Our structure is based on making sure we have locally based teams for our customers and the office will expand our ability to focus exclusively on Hampshire, Dorset, Wiltshire and Berkshire, where we have already delivered notable work. “Our goal is to generate a turnover of £50m by 2018 across the region, rising to £100m in 2020, and we’ll be creating new jobs along the way as part of our focus to use local companies whenever possible.” At the start of November, Willmott Dixon recruited former GLA deputy mayor for housing, Richard Blakeway, to its housing development arm. He will work as a strategic advisor to Willmott Residential, which was set up in May 2016 to grow the group’s residential development pipeline. Blakeway was deputy mayor for housing at the Greater London Authority (GLA) between 2008-2016.
In her first address to the CBI Annual Conference later today, Prime Minister Theresa May is to reveal a £2 billion annual research boost, as part of the government’s Industrial Strategy. It is being suggested that May will use her speech to outline the ways her government will step up to the task and get the economy back on track by announcing plans to secure the long term commitment of the UK to innovation and research. Included in this will be significant real terms increases in government investment worth £2 billion each year by 2020 for development and research. This is said to ensure that British business will stay at the cutting edge of scientific and technological discovery. Furthermore, the PM will announce a new Industrial Strategy Challenge Fund to support priority technologies, such as robotics and biotechnology, where the UK has the potential to turn strengths in research into a global industrial and commercial lead. It is expected that May will say: “Our modern Industrial Strategy will be ambitious for business and ambitious for Britain. “It is a new way of thinking for government – a new approach. It is about government stepping up, not stepping back, building on our strengths, and helping Britain overcome the long-standing challenges in our economy that have held us back for too long. “It is about making the most of the historic opportunity we now have to signal an important, determined change.” Meanwhile, May hinted that she could pursue an interim Brexit deal with the EU as part of the UK’s exit negotiations. The Prime Minister was grilled over an apparent call from the group’s president Paul Drechsler for a stopgap arrangement with Brussels. Asked whether she would back a transitional period between the end of Article 50 negotiations and a permanent new relationship between the UK and the EU, Mrs May said: “Obviously as we look at the negotiation, we want to get the arrangement that is going to work best for the UK and the arrangement that’s going to work best for business in the UK.
Facilities management group Mitie has delivered a further profit warning and has moved away from the care business. Along with reporting a slide into losses in the first half and cutting its dividend, Mitie said that the second half of the year should see an improvement. However, the full year turnout is still expected to fall short of expectations. The FTSE 250 listed firm has made the call to exit the domiciliary healthcare market, placed the company under strategic review and written off all healthcare goodwill and intangibles, as the division reels from downward pressure on rates and a reduction in care volumes. The firm had warned two months ago that performance in the six months up to September 30 was being hit by changing market conditions, with firms throughout the UK adjusting to economic uncertainty and increasing labour costs by making short term reductions in higher margin project work and discretionary spending. Although revenue went down by just 2.6% to £1.09 billion, the change in mix and lower discretionary spend saw margins squeezed and operating profits fell by 39% to £35.4 million, while the write-offs in healthcare saw Mitie plunge into a £100.4 million pre-tax loss compared to a £45 million profit a year ago. This reflected £128.1 million of charges, including impairments and writing off of healthcare goodwill and acquisition-related intangible of £117.2 million and restructuring costs of £6 million. Chief Executive Ruby McGregor-Smith, who will step down next month after 10 years at the helm, commented: “The first half of this year has been difficult but we are not alone in facing significant macroeconomic challenges. “The steps we have taken to counter these impacts include the restructuring of both frontline and support functions across FM and the decision to withdraw from the domiciliary care market.” As the previous year’s earnings per share revered into a 29.5p loss, the interim dividend was cut to 4p from 5.4p last year.
Warrington contractor Morris & Spottiswood has acquired Cumbrian maintenance specialist LLED Construction into its maintenance division for an undisclosed fee. The North West fit out company, which has a reported turnover of £88 million, bought-out founding owner Dee Addison, who will carry on working in his role as the principal of LLED Construction. All employees of LLED are set to be kept on. MD of Morris & Spottiswood UK Group, Jon Dunwell, commented: “We have worked with LLED Construction for more than 15 years and they have been a key partner throughout this period. “This gives us confidence in the acquisition as we have built a strong relationship centered around trust. LLED have been involved in many of our projects including both reactive and planned maintenance works for clients around the Scottish border territory and North of England. “LLED has a first class reputation in the industry for its reliability, accuracy, speed, quality of service and professionalism. The firm benefits from an excellent track record for developing and delivering for its clients including Weatherspoon’s, Heineken, Spar and Edinburgh Woollen Mill. He said that an important part of the transaction will also see the company retain the services of Addison, who he said has been the driving force behind LLED Construction’s success since day one. He continued: “Dee will be bringing considerable knowledge and experience which will be greatly valued within Morris & Spottiswood’s maintenance department. “We have worked in partnership with Morris & Spottiswood for many years and I believe the firm is ideally placed to take ownership of LLED Construction. “One of LLED Construction’s greatest assets is its highly experienced workforce which has played an instrumental role in making the business the success it is today. “They will all be retained under the new ownership joining forces an equally talented and driven workforce at Morris & Spottiswood.”
Warwickshire based civil engineering firm O’Brien Contractors has secured a contract to begin working on the development of a major new factory complex in Staffordshire. Readie Construction has signed the firm up to work on the £126.3 million construction of the new Gestamp site at Bericote Properties’ Four Ashes Park site, located near to Wolverhampton. The new 50,000 m2 manufacturing site is set to replace the existing Gestamp facility in Cannock, which is struggling because of capacity restrictions. The new facility will be fitted out with new state of the art stamping equipment and is designed to ensure the safety of 800 jobs at the current factory. Gestamp develops, designs and makes automotive components for carmakers such as Toyota, Nissan-Renault, Honda, BMW and Jaguar Land Rover. O’Brien will carry out the installation of three 6 metre deep factory pits, office floor slab, capping beam, service trenches, associated internal and external drainage and external works. Managing Director at O’Brien Contractors, Peter O’Brien commented: “We are very pleased to have been awarded another subcontract by Readie Construction. We have an excellent track record of delivering civil engineering services across the Midlands.” O’Brien Contractors was established in 1958 as a second generation, family run firm. Among its portfolio of civil engineering projects are: the regeneration of Longbridge Town Centre, Beacon Barracks SFA housing scheme in Stafford, Primark Distribution Centre in Kettering, New Cross Hospital’s new Accident and Emergency Centre in Wolverhampton and University of Birmingham’s campus expansion. Earlier in the year, O’Brien was appointed to the campus expansion project at the University of Birmingham. The company was chosen to work on a design and build contract for the construction of a new footpath and cycle way from the main campus to the student residence village, the Vale, along with associated works and soft landscaping.
Recently, it was announced that US behemoth Atas Residential had forged a build-to-rent venture in conjunction with Wildheart Residential management in the UK. This marks the American firms’ first major push into the British marketplace, while also showcasing the potential that currently exists in the buy-to-rent sector. This is an interesting trend in the UK property market, particularly considering the increased stamp duty and tax levies being aimed at private landlords. In fact, it reveals an underlying issue concerning supply, as the market continues to suffer from a dearth of available properties listed for sale. A Look at the UK Property Market: The Rise of Buy to Rent and the Reasons Behind This Over the course of the last 18 months, property prices in the UK have risen at an exponential rate. This growth has been vastly disproportionate to inflation and national earnings, creating a market where far fewer citizens can afford to buy. As a result of this, we have seen a dramatic increase in the the number of renters, as people look for a short-term alternative to buying. This debilitating cycle can be traced back to a fundamental lack of supply, as there are simply not enough available properties to fulfil demand and sustain a balanced marketplace. The statistics that support this are quite insightful, as while the UK is required to build an average of 300,000 houses each year to meet the prevailing demand they have not constructed more than 200,000 in more than a decade. While this has created a demand that has fuelled the buy-to-rent market, however, those within the sector have been quick to capitalise. Outlets such as Allsop have advertised this demand to interested parties, for example, while offering in-depth and actionable advice about how investors can participate. Similarly, initiatives such as the Build to Rent scheme in the UK have helped private sector firms to minimise the risk associated with individual construction projects, while optimising returns and sharing accountability with government agencies. The Bottom Line: What Else Can We Draw from the Rise of Buy to Rent? While the large-scale, international collaboration between Atlas and Wildheart Residential may be a fundamental symptom of an ailing property market, however, it is not the only one. We have also seen a distinct rise in the demand for alternative housing too, from flat pack and manufactured structures to motor homes. In fact, motor home sales increased by 20.4% in the year ending March 2016, translating into £150 million in retail value and signalling a huge shift in the outlook of buyers. As we can see, a lack of available housing (and the inability of private sector firms to build the required amount of properties per annum) is changing the perception of buyers and forcing them to seek out more innovative and affordable options. This is a trend that is likely to continue for the foreseeable future, at least until more properties can be built and the market can develop a sense of equilibrium. Even then, there remain concerns about the suitability of new-build houses, which are increasingly compact and unable to meet the demands of modern home-owners.
