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Railhub Archive 1996-07-24 DoT-001 Department of Transport0
Last BR maintenance business sold
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 track maintenance
 
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         Last BR maintenance business sold _______________________________________________________________

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type Press release note 235
BRs last rail maintenance business - Western Track Renewals Company Ltd - has been sold to Glasgow based Relayfast Limited, John Watts, Minister for Railways and Roads, announced today. The new owner of the company is the same management buy-out team which bought the very first of BRs Infrastructure Services (BRIS) business to be sold - Scottish Track Renewals Company Limited - in February. Western TRC employs 430 people and had a turnover in 1995/96 of #32.7 million Welcoming the sale of the last of the 13 BRIS businesses, Mr Watts said: "I am delighted by the success of this sale and am pleased to see Relayfast Limited demonstrate its confidence in the future of the industry in such a positive way. Relayfast bought the first BRIS business to be sold and now it has bought the last. This sale brings to a close yet another chapter of rail privatisation. With all the infrastructure maintenance and track renewals companies now in the private sector I look forward to a thriving competitive market in this exciting industry." Western TRC has a large fleet of on-track plant and is one of the main track renewals contractors to Railtrack in its Great Western and Midlands zones. It also provides plant based services to the Infrastructure Maintenance Companies Western TRC holds contracts for some important main lines including those out of Paddington to the West Country as far as Bristol, Plymouth and Penzance, and to South and West Wales, as well as the Didcot to Leamington Lines. The company has a wide spread of traffic on its routes, resulting in varying degrees of wear and tear, and hence the need for different standards of maintenance. The headquarters of the company are in Swindon. Notes to editors 1. Western Track Renewals Company Limited was offered for sale by Close Brothers (previously Hill Samuel) on behalf of British Railways Board along with the other track renewal companies in August last year. 2. The Track Renewal Companies (TRCs) provide specialised on-site engineering work, undertaking track renewals principally for Railtrack, and heavy mechanised plant hire as sub-contractors to the Infrastructure Maintenance Companies (IMCs). The IMCs provide a comprehensive range of engineering services covering all railway infrastructure related activities associated with civil engineering, telecommunications and signals engineering, facilities management, plant and electrical engineering and project management. The IMCs are also an important source of skilled labour for the TRcs. 3. It is expected that the business will gain the majority of its revenue from Railtrack and other rail industry operating companies. The BRIS companies sold, in order of completion date, are: BRIS Company Date Sold Purchaser Scotland TRC 8 February Relayfast Ltd (MBO) Scotland IMC 14 February First Engineering Ltd (MBO) Central TRC 29 February Tarmac Construction Ltd Eastern TRC 15 March Fastline Group Ltd (MBO) Western IMC 25 March Amey Railways Ltd Eastern IMC 2 April Balfour Beatty Ltd SouthEast IMC 2 April Balfour Beatty Ltd with MBO Southern TRC 2 April Balfour Beatty Ltd SouthWest IMC 18 April AMEC Ltd Central IMC 19 April GT Railway Maintenance Ltd Northern TRC 23 May Fastline Group Ltd. Northern IMC 18 June Jarvis plc Western TRC 23 July Relayfast Limited # = pounds sterling
Railhub Archive ::: 1996-07-24 DoT-001
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