Co-Tarmac RSS feed for the Co-Tarmac tag
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Business
Express & Star 18 Feb 11
Historic concrete business Tarmac is being merged in a deal worth more than £2 billion, it was announced today.
The move creates uncertainty for 500 people who work at the company’s base in Wolverhampton. The company is merging with the UK arm of French quarrying giant Lafarge.
No decision has been taken about where the new business will be based, raising fears for the future of Tarmac’s base in Millfields Road, Ettingshall…
Business
BBC News 22 Dec 10
Wolverhampton-based firm Tarmac Building Products Ltd is to cut 550 jobs and close one of its divisions due to “tough market conditions”.
The firm said it planned to close its precast solutions and flooring arm and said 217 jobs would be lost in Tallington, Lincolnshire and 106 in Henlade, Somerset…
Business
Adam Lumley The YamYam 25 Apr 10
Venture capital investment company Marwyn Materials is poised to make a takeover bid for Tarmac, the PFI partner that provides highways maintenance for Walsall Metropolitan Borough Council.
Tarmac operates the fleet of gritting lorries that only managed to keep 50% of Walsall roads open during the winter snow and is responsible for repairing the pot holes caused by the recent bad weather. Current owners of the Wolverhampton based concrete and quarries firm, Anglo American, have indicated that Tarmac does not feature in its future plans. Marwyn is now is negations with investment bankers at HSBC to broker a deal that will lead to an aggressive takeover of Tarmac.
Marwyn was set up by Peter Tom, former chairman of Aggregate Industries and Simon Vivian, a former executive at Hanson, to take control of profitable building materials companies. It is estimated that Tarmac could be worth up to £4billion.
News
Adam Lumley The YamYam 5 Mar 10
An additional £100,000 has been allocated to repairing frost damaged roads as Walsall Council struggles to fix the numerous potholes that blight highways across the borough.
A total of £5.7million will be spent on road maintenance in Walsall in the current financial year and a further £200,000 has been added to the roads budget for next year. Private contractor Tarmac won a four year highways maintenance contract with Walsall Council in May last year worth an estimated £7million per year to the Wolverhampton based construction giant. Earlier this week, the firm announced that it had secured a £250million contract with the Highways Agency to maintain motorways and trunks roads as part of the “Midlands Framework 4” initiative including the M1, M5, M6 and M42.
However, last summer saw operating profits slump and parent company Anglo American considering selling off Tarmac and axed 19,000 jobs worldwide in an attempt to save £1.2billion and fend off a £40billion takeover bid from rival company Xstrata.
During recent cold weather, Tarmac managed to distribute grit to 50% of the 500 miles of roads in Walsall and the council and its contractor were criticised after it emerged that grit supplies were being diverted to Birmingham following pressure from the government. The cold weather has also led to damage to carriageways and pavements and the extra cash is going to help repair crumbling roads.
Councillor Tom Ansell, Walsall Council cabinet member for transport, said: “It’s a major priority to keep the traffic moving across Walsall. Roads are our lifeblood and a great deal of time and resources are put into this.
“Like other areas across the country we have been inundated with potholes which are caused by sub-zero conditions.
“It is still a little early to assess the full extent of the damage to the road network. But we all recognise that there has been damage to the roads due to the severe weather this year and for that reason we have allocated a further £100,000 this financial year to enable a rapid response for potholes and other pressing problems.
“On top of this we are putting in an extra £200,000 in the next financial year for highways maintenance.”
Whether the increase in budget will make any difference remains to be seen since the Council has also come under some considerable criticism concerning the poor quality of workmanship in repairing potholes – with holes reappearing within weeks, and in some cases, days, after being ‘repaired’.
Business
Express & Star 19 Feb 10
Profits have halved at Wolverhampton-based roads and concrete group Tarmac over the last year, as it axed more than 1,200 jobs to cope with falling demand. The slowdown in the building industry, caused by the credit crunch and the weakness of the pound added to Tarmac’s woes…
Business
Express & Star 31 July 09
Profits have slumped at Wolverhampton-based building materials business Tarmac as it suffers from the near collapse of construction work in the UK…
Business
Minerals Quarrying & Recycling 1 May 09
Wolverhampton-based Tarmac has secured a four-year, £7million highways maintenance contract with Walsall Council covering a range of services including road surfacing and footpath reconstruction…