[22], In 2009, Mivan Kier, Kier's Romanian joint venture with the Northern Irish group Mivan, which invested in real estate projects in Bucharest, requested bankruptcy protection due to debts of €20 million. This triggered a management buyout at Beazer, leading to the forming of Kier Group, Britain’s first major contractor to be employee-owned. Consent is not a requirement of purchase. Find related and similar companies as well as employees by title and much more. … Shares fell by 12% to 437p. [6], A few years later Lotz withdrew from the company, but Olaf Kier retained a semblance of his identity by including Lotz's initials in the organisation's new name, J.L. British builder Kier Group named former Carillion CEO-designate Andrew Davies to its top job on Tuesday as it strives to cut debt and respond to problems afflicting the wider outsourcing industry. [106] Kier Construction was reinstated in December 2019;[107] Kier Highways and Kier Infrastructure & Overseas were reinstated in June 2020;[108] Kier Integrated Services was reinstated in August 2020, but McNicholas Construction Services remained suspended. A long-serving Kier engineer, John Mott, was appointed chief executive in order to revive the group's fortunes. [83] Kier also closed its Reading office with the loss of up to 40 jobs. [97], Kier was revealed as a subscriber to the UK's Consulting Association, exposed in 2009 for operating an illegal construction industry blacklist, and was among 14 issued with enforcement notices by the UK Information Commissioner's Office. Kier Group has 18,778 employees across 61 locations and £4.12 B in annual revenue in FY 2019. [80] On 30 March, Kier announced all 6,500 Kier employees would have their base salary reduced by between 7.5% and 25% for three months from 1 April; it stepped up its cost reduction programme, bringing forward the closure of Tempsford Hall to 30 April[81] (head office functions were transferred to Manchester in mid April),[1] and paused the sale of its housebuilding business, Kier Living[82] (though Terra Firma revived talks about buying Kier Living in December 2020). Its design and engineering capabilities meet the specifications for public and private customers. [76] At the group's AGM in November 2019, shareholders objected to CEO Andrew Davies's £2.6m annual remuneration package and an associated long-term incentive scheme. Our information suggests that Kier Group plc insiders own under 1% of the company. Kier Group plc ("Kier" or the "Company") announces that Simon Kesterton will be appointed to its board of directors (the "Board") as Chief Financial Officer Designate with effect from 26 August 2019 and will assume the role of Chief Financial Officer from 19 September 2019. Kier Group as we know it today began in 1992 when the company was acquired by Hanson plc. Company status Active Company type Public limited Company Incorporated on 21 April 1992. [79] On 24 March 2020, as the financial impacts of the COVID-19 pandemic became clear, Kier's board of directors took a three-month 20% pay cut to mitigate the financial impact of the crisis, and warned employees' salaries might also be cut. Secure and cloud-based. Kier Group investors rejoiced this morning as they were treated to a rare piece of good news: that the firm is regaining control of its debt. See our Privacy Notice to unsubscribe. CEO Andrew Davies's business review included 1,200 job cuts. You consent to Dun & Bradstreet (D&B) using this data for marketing and analytical purposes, and to D&B emailing you or using an autodialer or pre-recorded voice to text or call you at the number you provide with marketing or other offers. We use cookies for marketing and advertising purposes, and to provide the best experience on our website. Shares were also subject to renewed 'shorting'. Following an abortive bid for Abbey in 1985, French Kier itself was the subject of a hotly contested bid by Beazer, which eventually succeeded in January 1986. [109], pps 28 & 29, Kier Corporate Blue Book, 1955 Edtn, pps 17-19, Kier Corporate Blue Book, 1955 Edtn, p 16, Kier Corporate Blue Book, 1955 Edtn, pps 11-14, Kier Corporate Blue Book, 1955 Edtn, pps 3-7, Kier Corporate Blue Book, 1955 Edtn, pps 44 & 45, Kier Corporate Blue Book, 1955 Edtn, "TCI Top 100 Construction Companies 2018", "Kier rights issue fails to attract investors", "Buildings of Historic or Architectural Interest", "COMPANY NEWS; Hanson to Buy Beazer In $609 Million Deal", "Kier saves 200 Carillion staff jobs to complete JVs", "Kier takes on Carillion staff for HS2 and motorways work", "Carillion short sellers now targeting Kier", "Remember Carillion's collapse? [34] The 2018 results were in line with City expectations - showing a pre-tax profit of £137m from stable revenue of £4.5 billion - with Kier outlining clear debt reduction plans. Kier Group is a leading property, residential, construction and services group which invests in, builds, maintains and renews the places where we work, live and play. [68] Amid concerns about Kier's future, the company was dropped from two major development schemes, in Leeds and London. [23][24], In 2013, Kier acquired the services firm May Gurney for £221 million,[25] becoming the then fourth largest contracting firm in the UK (behind Balfour Beatty, Carillion and Laing O'Rourke). [26] In June 2015 Kier completed the acquisition of Mouchel, a business which included infrastructure services and business services divisions, for £265 million;[27] Mouchel Infrastructure Services was rebranded as Mouchel Consulting, and sold to WSP Global in October 2016. & Enterprises industry than UK£95k worth of shares in the door to Kier Group acquired... Conditions throughout the year of Twigden Homes `` Kier vs. Carillion - what can learn! 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