RMD Kwikform
 | |
| Industry | Construction |
|---|---|
| Founded | 1948 |
| Headquarters | Aldridge, United Kingdom |
Area served | Worldwide |
| Products | Formwork,Falsework,Scaffolding,Groundshoring |
Number of employees | c.1,200+ |
| Parent | Altrad Group |
| Website | www |
Altrad RMD Kwikformis a company based inAldridge,England, that hires and sells temporary works and engineering design for buildingconstructionand infrastructure projects.
History
[edit]The company was formed asMills Scaffold Companyin 1935 and becameGKN Kwikformon acquisition byGKNin 1983.[1]It expanded rapidly informworkandscaffoldingunder GKN ownership in the end of the 1980s.[2]In June 2000, GKN Kwikform merged with RMD (Rapid Metal Developments, established in 1948), the formwork and scaffolding unit of RM Douglas (part ofTilbury Douglas), to formRMD Kwikform.[3][1]Tilbury Douglas renamed itselfInterservein 2001.[4]
Projects built using RMD Kwikform equipment included theNew Tyne Tunnel,completed in February 2011.[5]In 2015, RMD Kwikform launched its ground shoring range of products, extending its capabilities to ground works applications.[6]
When parent company Interserve got into financial difficulties in December 2018, restructuring options included spinning off the £250m building materials unit RMD Kwikform to lenders, leaving the remainder of Interserve as a more focused support services business.[7]
However, theCabinet Officereportedly objected to any deal involving selling RMD Kwikform, believing this would render the remainder of the business almost worthless, making it difficult to continue awarding contracts to the company.[8]At the beginning of 2019, Interserve announced agreement on a deleveraging deal which retained RMD Kwikform in the group, but the plan was rejected by shareholders at an AGM on 15 March 2019.[9]
Interserve's board applied for the parent company to be placed intoadministration,and pursued a 'pre pack' deal,[10]selling the group, including RMD Kwikform, to a new company, Interserve Group Ltd, controlled by Interserve's existing lenders.[11]
In August 2019, Interserve appointed Ken Hanna as a non executive director of its board, and chairman of RMD Kwikform. RMD Kwikform had been the strongest performer in the group, but results in 2018 showed a 27% drop in operating profits to £39.6m, as turnover fell to £195.5m from £229m.[12]In October 2021, RMD Kwikform was sold to France's Altrad group for over £140m.[13][14]
References
[edit]- ^ab"RMD Kwikform".Companies House.Retrieved16 December2018.
- ^"GKN Forms GKN Powered Access to complement traditional scaffolding activities of GKN Kwikform".8 June 1990.Retrieved16 December2018.
- ^"RMD/Kwikform merge".Construction News. 1 June 2000.Retrieved16 December2018.
- ^"History".Interserve.Retrieved16 December2018.
- ^"The tale of the Tyne Tube".New Civil Engineer. 18 February 2010.Retrieved16 December2018.
- ^"Business: A company that's on to a shore thing".Ground Engineering. 1 December 2014.Retrieved16 December2018.
- ^Kleinman, Mark (15 December 2018)."Struggling Interserve may hand construction unit to lenders".Sky News.Retrieved16 December2018.
- ^Davies, Rob (5 February 2019)."Interserve's lenders go head-to-head with Cabinet Office over rescue options".Guardian.Retrieved5 February2019.
- ^Price, David; Garner-Purkis, Zak (15 March 2019)."Interserve rescue plan voted down".Construction News.Retrieved15 March2019.
- ^"Interserve goes into administration after rescue deal rejected".The Guardian. 15 March 2019.Retrieved15 March2019.
- ^"Successful completion of sale of the group (15 March 2019)".London Stock Exchange.Retrieved15 March2019.
- ^Prior, Grant (28 August 2019)."Interserve confirms new chairman for RMD Kwikform".Construction Enquirer.Retrieved28 August2019.
- ^Kleinman, Mark (6 October 2021)."Interserve break-up nears end with £140m sale of RMD Kwikform to French group Altrad".Sky News.Retrieved7 October2021.
- ^"Interserve confirms RMD Kwikform sale to Altrad".The Construction Index.7 October 2021.Retrieved7 October2021.
External links
[edit]
| International | |
|---|---|
| National | |
