BALFOUR BEATTY S/ADR Stock Price, News & Analysis

Balfour Beatty has appointed Mark Konchar as the new senior vice president and managing director of its U.S. rail operations. With 23 years at Balfour Beatty, Mark's previous role was as senior vice president and chief innovation officer. He will now oversee national operations in the rail sector, focusing on delivering client services across various markets, including Class 1 and regional railroads. Mark also leads the company's Strategic Procurement program and will be vital in formulating a national rail strategy to enhance Balfour Beatty's expertise in the sector.

Balfour Beatty’s U.S. operations have promoted Nicola Spence to vice president of Strategic Procurement. With over a decade at Balfour Beatty, she will manage corporate procurement processes essential for the company’s operations. Spence's advanced skills in supplier management and e-sourcing technology have already contributed to significant supply chain improvements. Notably, she has spearheaded the appointment of a top global human capital management firm for the company’s U.S. operations. Her leadership is expected to drive further growth in procurement.

The Museum of Science & History (MOSH) has chosen Balfour Beatty and Stellar as a joint venture for the MOSH Genesis project, a new museum at the Shipyards East in Jacksonville, Florida. The project, estimated at $85 million, will feature 130,000 square feet dedicated to exhibitions and a planetarium. The new facility aims to significantly increase MOSH's capacity, projecting to serve 58,000 students and 469,000 visitors annually. Construction begins in 2023, following site approvals.

Balfour Beatty has sold its U.S. Track Solutions operations to Rhomberg Sersa Rail Group for $7.25 million. The Track Solutions division, generating annual revenue of $10 million, specializes in niche rail services, which will enhance RSRG's focus in the U.S. and Canada. Balfour Beatty is concentrating on its core rail services, including large capital programs and traction power. The transaction, completed on October 29, 2021, aligns with the company’s strategy to strengthen its rail business.

Balfour Beatty has achieved a key milestone by substantially completing the West Expansion of the Greater Fort Lauderdale/Broward County Convention Center in Fort Lauderdale, Florida. This project adds 350,000 square feet of exhibition space, enhancing the county's capacity for meetings and conventions. The completion aligns with the upcoming Fort Lauderdale International Boat Show, a major event for the region. Future phases include a 400,000-square-foot East Expansion and a new Omni Hotel, both scheduled to begin construction in late 2021.

Balfour Beatty has successfully completed the construction of West Manor Elementary School in Atlanta, finishing nine weeks ahead of schedule. The $11 million project began in June 2020 and involved extensive renovations, including a new gymnasium, administrative space, and classrooms, spanning over 52,106 square feet. The company utilized lean construction methods and value engineering, reallocating $296,000 of the project scope without compromising on quality. Students and staff welcomed the new facilities for the 2021-2022 school year.