New Main Board Directors Appointed
BICC PLC
9 February 2000
NEW MAIN BOARD DIRECTORS FOR BICC PLC
BICC, the engineering, construction and services group, announces today the
appointment of Jim Cohen and Paul Lester to the main Board.
Jim Cohen, who is 57, is Balfour Beatty group Managing Director with
responsibility for both its Rail Engineering and Services business and its
privately-financed Investments and Developments portfolio. He joined the
Group in 1993. He previously held senior management positions in the European
division of GTE and in GEC's railway business. Prior to that, he was a senior
civil servant in the Department of Energy.
Paul Lester, who is 50, is Balfour Beatty group Managing Director with
responsibility for the Group's UK construction and building services
activities. He joined the Group in 1997 from Graseby plc, the electronic
instrument group, where he was Chief Executive. Previously, he held senior
management positions at Schlumberger and at Dowty Group plc.
These appointments reflect the significant change in structure of the Group as
a result of the disposal of its Energy and Telecommunication Cables businesses
in 1999. Balfour Beatty now accounts for more than 90% of the Group's
turnover.
BICC has announced its intention to ask for shareholder approval to change its
name to Balfour Beatty plc.
Enquiries to:
Tim Sharp
BICC Group
Tel: 020 7629 6622
Notes to Editors
BICC is a leading international, multi-disciplinary rail engineering and
services company. Amongst its current contracts are the $450 million
electrification project between Boston and New Haven for Amtrak in the US, the
electrification of the UK West Coast Main Line, likely to exceed £450 million
in value, the £170 million route remodelling project from Euston station to
Willesden and major projects on the Channel Tunnel Rail Link and the East
Coast Main Line. Rail investment around the world is on a sharp upward trend.
BICC is amongst the most successful entrants to the UK's privately-financed
infrastructure market. Its existing portfolio of three roads, two hospitals
and three power projects is expected to be augmented in the near future by
conversion from preferred bidder to contract status of a further hospital, a
major schools project and a water concession in Scotland. It has also
prequalified for two concessions under the PPP arrangement planned for London
Underground. The substantial asset base, secure long-term profit flows and
enhanced skills and capabilities that flow from leadership in this business
will be of great future benefit to the Group.
3. BICC is a leading provider of building construction, building services
and building management skills to international markets. Through a programme
of business process improvement, particularly in respect of supply chain
management, the creation of customer alliances and a more selective approach
to bidding, its margins in this sector have shown considerable and consistent
improvement over the last three years. The Group works with customers in any
one of a number of specialist skills and services and, increasingly, applies
them in combination to satisfy the growing need for comprehensively-outsourced
asset services.
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