Steel group lands £72m contract

STRUCTURAL steel group Severfield has won £72m worth of contracts after recovering from remedial costs relating to the Cheesegrater building in London which impacted the firm last year.

The Thirsk-based group, which has a factory in Bolton, has been hired to work on the development at 22 Bishopsgate by Multiplex providing superstructure steelwork, following the acquisition of the City of London building by AXA insurance in 2015.

Severfield has also secured work on a commercial office development in the Midlands, two distribution centres in the Southeast, a research complex in Manchester and a retail extension in London.

This comes following Severfield announcement that it was back in multi-million pound profits, having been hit by the £6m costs of the Cheesegrater (formally the Leadenhall building in London) and a £6.9m investment for a 50% share of Composite Metal Flooring, which manufactures decking used in construction.

Ian Lawson, chief executive officer, Severfield plc, said: “We are delighted to announce these new contract wins and are excited to be working with Multiplex on such a high profile development as 22 Bishopsgate. This further demonstrates the breadth of the Group’s capabilities and the quality of our order book.

“The group has a longstanding history of working on iconic London buildings such as The Shard, London Bridge Station and Wimbledon No 1 Court. Our design, experience and engineering skills have resulted in a strong pipeline across a range of sectors.”