Liquidation of Carillion could open opportunities for Graham Group
Carilion’s liquidation could provide opportunities according to the president of Graham Group, the other company in charge of construction and maintenance of the Saskatchewan Hospital in North Battleford.
On Monday it was announced the U.K. based company Carillion was going into liquidation. The group had a 50 per cent equity share of the consortium Access Prairies Partnership in the Public Private Partnership (P3) project to design, build, finance and maintain the new psychiatric hospital in North Battleford. On Tuesday the provincial government saidconstruction should go ahead as planned and added there was no expected delay for completion.
The Graham Group, a Canadian construction company based out of Calgary, holds the remaining 50 per cent equity in the project. According to president, Grant Beck, the company has been aware of Carillion’s financial situation for a while now and planned accordingly.
“There were significant write downs on their balance sheets that put the whole thing at risk, so we have been aware of it for some time,” Beck said. “This situation could put some pressure on us, but to the same degree it also provides opportunities for us.”