tunnelling-journal (1)
tunnelling-journal (1)
  • Home
  • Print
    • Subscribe
    • Tunnelling Journal
    • Breakthrough
    • ITA Activity Report
    • A&NZ Journal
    • WTC Preview
    • Media Kit
  • Digital
    • Newsletter
    • E-Shots
    • TJ Digital edition
    • Products Page
    • Media Kit
  • Conferences
    • BTS Conference and Exhibition
    • Cutting Edge 2022
  • Buyer’s Guide
  • Events Diary
  • Jobs
  • About Us
  • Contact Us
  • Podcast

Home > DavyMarkham acquisition

DavyMarkham acquisition

Tris Thomas

Written by Tris Thomas on 08/03/2010 in News

Tagged:

Sheffield based, heavy engineering company DavyMarkham has been acquired by India’s Hindustan Dorr Oliver (HDO) Limited (a subsidiary of IVRCL Infrastructures and Projects Ltd.) for US$12.76M. The acquisition provides HDO an entry into the Heavy Engineering sector.

The firm’s Managing Director, Kevin Parkin and Financial Director, Duncan Hay, will continue in their current roles along with the management team.

DavyMarkham is best known to the tunnelling sector for its TBM capabilities, having produced cutter heads for a variety of projects including the Niagara Falls hydroelectric project, railroad tunnels in China, and for having worked extensively on such landmark projects as the Channel Tunnel

“It is great news for DavyMarkham’s customers, employees and suppliers, since HDO along with its parent is financially very strong, is very growth orientated and dedicates itself to continuous improvement in all fields of its business,” said Kevin Parkin.

IVRCL is amongst the leaders of the Indian infrastructure industry and is engaged in the development and execution of engineering, procurement and construction (EPC) and lump sum turnkey (LSTK) projects in key infrastructure sectors such as power, water & environment, transportation and construction. With a group turnover exceeding US$1bn, it owns a controlling stake in HDO.

HDO sees the acquisition as a platform for expanding into new sectors using DavyMarkham’s corporate credentials and engineering expertise. It intends to leverage on this expertise and gain a foothold amongst domestic heavy engineering clientele. IVRCL as a group introduces the Sheffield based company to its existing international contacts.

HDO intends to invest strategically in new plant and equipments at the Darnall works, continue the company’s successful apprentice training scheme and expand DavyMarkham’s sales and marketing infrastructure, to tap into the opportunities in India.

“We shall certainly need more skilled workers and to train up people to fill important management and production roles, as the business grows,” says Kevin Parkin. “The good news for young people and their parents in the region is that we shall be able to offer jobs with a good future in an expanding industry, for many years to come.”

Comments:

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Digital Edition

More Like This

07/12/2021

CREG TBM in Dalian Metro ITA Tunnelling Awards win

CREG TBM in Dalian Metro ITA Tunnelling Awards win

On December 2, the 7th ITA Tunnelling Awards 2021 revealed that the Dalian Metro Line 5 project (“A Large-diameter Shield…

27/04/2022

Lower Thames Crossing bidder dialogue begins

Lower Thames Crossing bidder dialogue begins

National Highways has invited shortlisted bidders to participate in dialogue for the £2.3bn contract to build the tunnel and approach…

19/01/2022

Sydney Western Harbour Tunnel contract award

Sydney Western Harbour Tunnel contract award

Construction of Sydney’s Western Harbour Tunnel will begin within months, after a $722M contract was awarded to deliver the first…

  • Contact Us
  • Media Kit
  • Magazine Archive

Newsletter

The latest from the Tunneling Journal direct to your inbox.

Social



Enquiries

TGS Media Ltd
The Old Library
Webster House
Dudley Road
Tunbridge Wells
TN1 1LE
United Kingdom

© Tunnelling Journal. All Rights Reserved. Privacy Policy / Terms & Conditions. Admin

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkRead more