WYG’s international division secures key wins
ENGINEERING and design group White Young Green’s WYG) international division is surging ahead with a number of key wins.
The Leeds-based business, which has just undergone extensive restructuring, said today that WYG International had recently signed a €4.9m (£4.1m) contract to support the European Commission to deliver a three year regional development programme in Serbia.
The division will also be providing consultancy service under a project funded by the European Union aimed at ensuring the effective development and management of migration policy throughout Africa Caribbean and Pacific regions.
Last month WYG’s chief executive Paul Hamer said part of the firm’s “getting back to basics” was looking abroad for growth.
Mr Hamer told TheBusinessDesk.com that the Leeds-based group was targeting total revenues of 50% from its international business by 2012. The figure currently stands at 18%.
Despite mixed trading conditions across the business, WYG has also secured significant contract wins in the UK including a deal to support the Connect Plus consortium as construction design and management co-ordinator on a £1.25bn project to widen key sections of the M25.
In a pre-close statement for the year ended July 4, it said: “The group continues to make significant progress in implementing its strategy which is centred on creating more focused and efficient businesses and internationalising WYG.
“The restructuring of the group’s operations is substantially complete as planned as the year end approaches.”
Group headcount was reduced by 324 between December 31, 2008 and April 30 in addition to a further 235 job cuts announced previously.
The company is also set to close a further five regional offices by the end of the year. It has already closed seven.
The group confirmed that it has secured a deferment of a covenant test date until the end of July and that a further deferral would be requested.
