A welter of existing limited companies will be consolidated under the new trading group, Laing O’Rourke Holdings, helping to cut administration costs and simplify financial reporting to stakeholders.
The new consolidated UK trading group will be made up of five operating units.
- Laing O’Rourke Delivery will comprise the Buildings and Infrastructure trading businesses
- Explore 2050 Engineering, encompasses specialist Expanded structures business, and Crown House Technologies, the MEP business
- Explore 2050 Manufacturing, includes Laing O’Rourke’s two UK manufacturing facilities – Explore Manufacturing in Nottinghamshire and CHt Manufacturing in the West Midlands – and well as Expanded Piling, and specialist stone contractor Vetter
- Select Plant Hire remains a standalone trading business for cranes, plant and equipment
- Laing O’Rourke Services, encompasses employment entities, as well as digital design and recruitment businesses.
The changes do not impact the leadership teams of any of Laing O’Rourke’s specialist trading entities and will not affect the delivery of live projects.
Laing O’Rourke said it was informing key clients of the simplified structure and was engaging with counterparties to a small portfolio of contracts, which are planned to transfer to different trading entities.
Seamus French, Europe Hub Managing Director and CEO-designate said: “This much simpler corporate structure is a positive move for the business and all our stakeholders.
“The restructure will simplify our financial reporting process and ensure we can run our corporate structure more efficiently, allowing management to focus their time on running the core trading companies that will drive the growth of the business.”