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Kier Group plc
Type Public (LSE: KIE)
Founded 1928
Headquarters Sandy, Bedfordshire, England
Key people Phil White, Chairman
John Dodds, CEO
Industry Construction, Civil engineering, Support services, Property management
Revenue £2,374.2 million (2008)
Operating income £87.1 million (2008)
Net income £48.2 million (2008)
Employees 11,000 (2008)
Website www.kier.co.uk

Kier Group plc is a construction, development and services group active in building and civil engineering, support services, public and private housebuilding, property development and the Private Finance Initiative (PFI). It is a constituent of the FTSE 250 Index.

Contents

History

The Company was founded by Jorgen Lotz and Olaf Kier, Danish engineers, under the name Lotz & Kier in 1928, and it was based in Stoke-on-Trent. [1]

A few years later Lotz withdrew from the company, but Olaf Kier retained a semblance of his identity by including Lotz's initials in the organisation's new name, 'J.L. Kier & Co Ltd', which remained the company's principal title for over four decades. By the late 1930s Kier had moved their head office to Belgravia in Westminster, and thereby became neighbours to many of Britain's leading construction engineering consultants and contractors, who had formed a substantial coterie in Westminster for professionals and businessmen engaged in civil engineering. Their immediate neighbours were Marples Ridgeway (builders of Hammersmith Flyover) and Edmund Nuttall (builders of both Mersey road tunnels).

During the first thirty-five years of its existence Kier became identified with certain civil engineering specialisms, such as contiguous cylindrical reinforced concrete grain silos and cement silos, using continuously sliding formwork; commencing with those at Barking in 1929, followed by grain silos at Northampton, Peterborough, Melksham, Gloucester and Witham; and cement silos at Norwich, Cambridge, Trinidad, and in India.[2]

Such specialist work was part of a pattern that quickly developed in the company's operations during that period, namely the undertaking of innovative, state-of-the-art civil engineering techniques at the forefront of modern technology. Other elements within this pattern were hyperbolic natural draft cooling towers (mostly around 300 ft high),[3] monolithic concrete chimneys (sometimes over 400 ft high)[4], complete power station structures,[5] and coastal works such as tanker berths, docks and harbours.[6]

Corner detail of Highpoint 1, showing balcony profiles.

In the same period, only this time in the building sector, Kier were in the vanguard of new reinforced concrete systems for use as framework for tall buildings. Their most famous contribution in this field was an eight-storey avant-garde development of apartment blocks named Highpoint, located in Highgate Village, north London. They were responsible for the reinforced concrete and general building.[7]

When this project was completed in 1935 it became widely renowned as the finest example of this form of construction for residential purposes. When Le Corbusier himself visited Highpoint in 1935 he said, "This beautiful building .... at Highgate is an achievement of the first rank." And American critic Henry Russell Hitchcock called it, "One of the finest, if not absolutely the finest, middle-class housing projects in the world."[8] In 1970 this reputation gained official recognition when both Highpoint blocks were classified Grade I within the historic buildings listing programme. [9]

While Olaf Kier remained at the helm of the organisation he had firstly projected plans, then active plans, for family succession within the group's top management, but unfortunately these did not achieve fruition. His son by his first marriage was sadly killed in action during World War II. Then during the 1950s Olaf introduced his nephew, Mogens Kier, into the firm's management structure, but this did not lead to his assuming principal position in the organisation. Olaf died in an accident in 1986, aged 87;[10]and Mogens died in 2003.[11]

J.L. Kier & Co Ltd remained a private company until 1963 when it obtained a listing on the London Stock Exchange and became a public company. Its offer for shares was many times oversubscribed. The Kier family retained a significant majority of the holding.

Ten years later, on 16 November 1973, the company merged with W. & C. French, another contractor, to form French Kier Holdings.[12] Then in 1986, French Kier was acquired by Beazer plc.[13]

Five years later (1991) Hanson plc bought Beazer plc[14] and made an early decision to dispose of the Beazer contracting arm. The contracting business was disposed of the following year via a management buyout, in which Hanson retained ten per-cent of the equity,[15] and the Kier group was re-created in its present form. A listing on the London Stock Exchange was obtained in 1996.

In 2009, Mivan Kier, Kier's Romanian joint venture with the Northern Irish group Mivan, which invested in real estate projects in Bucharest, requested bankruptcy protection due to debts of €20 million.[16][17]

Operations

The company has four divisions: Construction, Support Services, Homes and Developments. These are further split into smaller companies.[18]

Major projects

Projects involving the company have included the North Terminal at Gatwick Airport completed in 1988,[19] the Lesotho Highlands Water Project completed in 1998,[20]Hairmyres Hospital completed in 2001[21] and the Channel Tunnel Rail Link (CTRL).[22]

Current projects include the UK Supreme Court in London,[23] and Snowhill Phase 2 in Birmingham,[24] both nearing completion and One Reading Central due for completion in 2010.[25]

References

  1. ^ "Ove Arup, Masterbuilder of the 20th Century by Peter Jones, Page 54". http://books.google.com/books?id=6ACoL299r2EC&pg=PA54&lpg=PA54&dq=Jorgen+Lotz+and+Olaf+Kier&source=bl&ots=aqZCZjIMae&sig=WyeIWRhMlQTXz04mxu70VqZob8A&hl=en&sa=X&oi=book_result&resnum=1&ct=result. Retrieved 2008-12-02.  
  2. ^ pps 28 & 29, Kier Corporate Blue Book, 1955 Edtn
  3. ^ pps 17-19, Kier Corporate Blue Book, 1955 Edtn
  4. ^ p 16, Kier Corporate Blue Book, 1955 Edtn
  5. ^ pps 11-14, Kier Corporate Blue Book, 1955 Edtn
  6. ^ pps 3-7, Kier Corporate Blue Book, 1955 Edtn
  7. ^ pps 44 & 45, Kier Corporate Blue Book, 1955 Edtn
  8. ^ From here to modernity - Highpoint I
  9. ^ Hansard, 3 February 1970
  10. ^ Cokenach Cricket Club
  11. ^ Kierlink
  12. ^ J. C. H. Brumwell (1974-12-31). "Notes on Financial Times-Actuaries Index in 1973" (pdf). The Actuarial Profession. http://www.actuaries.org.uk/__data/assets/pdf_file/0020/25283/0109-0113.pdf. Retrieved 2008-08-18.  
  13. ^ J. C. H. Brumwell (1987-12-31). "Notes on Financial Times-Actuaries Equity Share Indices Index in 1986" (pdf). The Actuarial Profession. http://www.actuaries.org.uk/__data/assets/pdf_file/0008/24785/0143-0152.pdf. Retrieved 2008-08-18.  
  14. ^ Jonathan P. Hicks (1991-09-17). "COMPANY NEWS; Hanson to Buy Beazer In $609 Million Deal". The New York Times. http://query.nytimes.com/gst/fullpage.html?res=9D0CE3D71E3DF934A2575AC0A967958260. Retrieved 2008-08-18.  
  15. ^ "Buy out, yes. Sell out, no". Contract Journal. 1994-04-07. http://www.contractjournal.com/Articles/1994/04/07/32122/buy-out-yes.-sell-out-no.html. Retrieved 2008-08-18.  
  16. ^ "Mivan Kier JV declares insolvency", Bucharest Business Review, August 9, 2009
  17. ^ "Vând avans de locuinţă", Evenimentul Zilei, September 8, 2009
  18. ^ "Organisational Structure". Kier Group plc. http://www.kier.co.uk/about/structure.asp. Retrieved 2008-08-18.  
  19. ^ "Gatwick Airport North Terminal Development". Entech. http://www.etl-entech.co.uk/downloads/Gatwick.pdf.  
  20. ^ Nicholas Hildyard (2002-07-10). "The Lesotho Highland Water Development Project - What Went Wrong? - The Companies". The Corner House. http://www.thecornerhouse.org.uk/item.shtml?x=52182#appendix-01-01-00-00. Retrieved 2008-08-18.  
  21. ^ "PFI Data Sheet - Hairmyres Hospital" (pdf). Government of Scotland. http://www.scotland.gov.uk/Resource/Doc/1069/0005223.pdf. Retrieved 2008-08-18.  
  22. ^ "CTRL Contract 103". World Tunnelling. 2001-05-01. http://www.allbusiness.com/construction/heavy-civil-construction-marine-waterway/7810391-1.html.  
  23. ^ "Kier given go-ahead on Supreme Court". Contract Journal. 2007-04-04. http://www.contractjournal.com/Articles/2007/04/04/54315/kier-given-go-ahead-on-supreme-court.html.  
  24. ^ "Snowhill builder holding steady despite the crunch". Birmingham Post. 2008-05-16. http://www.birminghampost.net/birmingham-business/birmingham-business-news/other-uk-business/2008/05/16/snow-hill-builder-kier-holding-steady-despite-crunch-65233-20924245/. Retrieved 2008-08-18.  
  25. ^ "Reading Central gets green light". Property Week. 2007-09-17. http://www.propertyweek.com/story.asp?storycode=3095507.  

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