Contractor Carillion now has complete ownership of rail repair and maintenance company GT Rail Maintenance.
Carillion, which already owned 49% of GTRM, bought the remaining 51% from French-based transport group Alstom for £34m last week. The contractor will borrow the sum to cover the cost of the purchase.

GTMR has a turnover of more than £250m and is responsible for the repair and maintenance of about 21% of the UK's mainline rail network. It employs about 3500 staff and posted pre-tax profit of £10.2m for the year to 31 March 2001.

Carillion chief executive John McDonough said expanding the group's rail maintenance and repair business was part of Carillion's strategy.

GTMR will make a significant contribution to our future growth

John McDonough, chief executive, Carillion

He said: "With the rail market growing, and with increasing opportunities to offer added value services … GTMR will make a significant contribution to our future growth."