Carillion, the construction and service support company, has acquired an additional 51 per cent stake in the trading subsidiary of a rail maintenance company, for £34m.
The acquisition of Alstom's interest in GT Rail Maintenance Holdings (GTRM), in which the company already had a 49 per cent stake, means Carillion now owns GTRM outright. Chief executive John McDonough said: 'The expansion of this area of our business is an important part of our strategy.'

'With the rail market growing and with increasing opportunities to offer higher added value services, we believe that by working in alliance with Railtrack, GTRM will make a significant contribution to our future growth,' he added.

GTRM topped Railtrack key performance indicators in 2000 and 2001. It was formed in 1996 when it was purchased from the British Railways Board. GTRM has an annual turnover of more than £250m and is responsible for the maintenance and repair of around 21 per cent of the UK mainline rail network and employs 3,500 people across the UK.

Source

The Facilities Business