Barclay Mowlem was acquired by Carillion as part of its acquisition of Mowlem in February 2006. The business, which has its head office is in Sydney, Australia, is focused on a number of construction markets in Australia and South East Asia and is non-core business for Carillion.
In 2005, Barclay Mowlem had sales of £380 million and a loss before tax of £16.4 million. Its gross assets at 31 December 2005 were £118 million. After disposal costs and retained contract liabilities the sale is unlikely to generate a material profit.
The sale will not include Barclay Mowlem’s 13.9 per cent interest in Freightlink, the Special Purpose Company responsible for the Alice to Darwin PPP rail project.