Contractor ceases to trade under heavy construction and begins operating as support services business, following purchase of Alfred McAlpine
Carillion has reclassified on the London Stock Exchange as a support services business following the acquisition of Alfred McAlpine earlier in the year.
The company will cease trading under the heavy construction sub-sector from the end of Friday 20 June and will operate under the new classification from Monday 23 June.
In a statement the company said: "This move reflects the material change in composition of Carillion's business activities in line with the Group's strategy for growth, which, following the acquisition of Alfred McAlpine earlier this year, has created a leading UK support services businesses."
It also announced the sale of investments in four PPP projects, Lewisham Hospital, James Cook University Hospital, Barnsley Schools and Redcar and Cleveland Schools, generating cash proceeds of £35.9m.