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Supply chain owed £2bn by Carillion

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Suppliers and subcontractors are owed around £2bn by Carillion.

The figure in the firm’s last results statement for “trade and other payables” highlights how hard the supply chain could be hit by the company’s collapse.

Subcontractors should be offered some protection on most public jobs by the use of Project Bank Accounts.

PBAs ring-fence money from the client and protect suppliers’ cash if a main contractor goes under.

One industry source said: “This is the real acid test for PBAs now as a lot of Carillion’s contracts will have been using them.

“PBAs have certainly helped speed up payments to suppliers but they’ve never seen a test like a firm the size of Carillion going under.”

But millions held in retentions will still be lost despite the use of PBAs.

Hundreds of suppliers have also been using Carillion’s Early Payment Facility system which has processed invoices totaling more than £400m.

Subcontractors get paid earlier that the firm’s standard 120 day terms for a small fixed charge.

Payments are also made directly from Carillion’s bankers which should see firms using the system getting the cash they are owed.

During a House of Commons debate yesterday Labour MP Kevan Jones said: “Carillion is notorious in the subcontracting industry as a company that pays its bills very late—over 90 days in most cases.

“The Minister has talked about public sector contractors that will need to be paid, but what support will the Government give small businesses that are in non-Government contracts and are still waiting to be paid?”

Minister for the Cabinet Office David Lidington said: “Companies in non-Government contracts that are not involved in the provision of public services would become creditors of Carillion.”

Ian Anfield, managing director at Hudson Contract said: “To many of us who worked alongside or for Carillion, they were affectionately known as ‘Carry on Construction’ run by accountants rather than engineers and quantity surveyors.

“Sites were hamstrung with so much red tape they could not function as they should.”

Piling specialist Van Elle is among firms owed money having carried out £1.6m of work in December and January for Carillion on Network Rail jobs which has not yet been paid for.

Van Elle said: “The Group will engage with Carillion and its advisers (including the Official Receiver) to determine the status of outstanding payments.”

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Formwork Market Demanding Growth, Rising Trend, Outlook, Insights & Revenue Forecast 2017-2022

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HTF MI published a new industry research that focuses on Formwork market and delivers in-depth market analysis and future prospects of China Formwork market. The study covers significant data which makes the research document a handy resource for managers, analysts, industry experts and other key people get ready-to-access and self-analyzed study along with graphs and tables to help understand ma1 Posted via Industry Today. Follow us on Twitter @IndustryToday Continue Reading

Smart Buildings Market has Endless Growth Potentials

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The report covers the present scenario and the growth prospects of the global smart buildings market for 2017-2021. To calculate the market size, the report considers the new installations, sales, value, retrofit, replacement, aftermarket services. Posted via Industry Today. Follow us on Twitter @IndustryToday Continue Reading

DIFFERENT SIKA SOLUTIONS OFFER SAME SUPERB WATERPROOFING QUALITY

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A proven waterproof solution is essential for safeguarding basements, car parks, tunnels and other belowground concrete structures against damp and water ingress. But which system is best suited to your building? A render-based product? A drainage system incorporating a membrane? Sika offers both solutions as part of its proven, wide-ranging concrete and waterproofing range, so let’s examine the benefits of each.

Sika®-1 Pre-Bagged waterproofing system comprises watertight renders and screeds produced using the Sika®-1 Waterproofing Liquid and Sika®-1 Pre-Batched Mortars. The mortars consist of a blend of special cement and kiln dried graded aggregates. Packaged in four grades, each is specifically designed for optimum application performance and durability.

Key considerations when specifying Sika®-1 Pre-Bagged:

  • Once applied, it requires absolutely no maintenance
  • It is more cost-effective when applied to areas of 300m2 or less
  • The render system takes up minimal space
  • Bonds directly to the substrate – follows the contours of any structure
  • Withstands high water pressure
  • Substrate preparation may be required

In terms of a water management solution, Sika® CD-Cavity Drain System uses a high density polyethylene internal drainage membrane to control water after it has penetrated a structure. The system is installed, loose-laid in flooring applications and attached to the wall with surface plugs in vertical installations. The system directs penetrating water into a drainage system and a collection sump before using a pump to discharge water from the building. A cavity drain provides protection from the ingress of water, vapour and gases.

Key considerations when specifying Sika® CD-Cavity Drain System:

  • System requires ongoing maintenance and running costs
  • Requires more space to install
  • Acts as a vapour barrier
  • Limited surface preparation required
  • Can be used where the substrate does not have the strength to resist stresses caused by water pressure
  • Most cost-effective on areas larger than 300m2

Although varying in application and comprising different materials, the systems share common properties. For instance, Sika®-1 Pre-Bagged and Cavity Drain are suitable for new-build and refurbishment projects involving a range of belowground structures.

As well as being BBA-approved, both systems carry a Sika guarantee when installed by an approved contractor. Other common properties include the systems’ suitability for use to grades 1-3 according to BS 8102-2009, and high water table according to BS 8102-2009.

What then, must we conclude from this comparison? Well, by eliminating the need for ongoing maintenance, the Sika®-1 Pre-Bagged system is a more cost-effective solution over a lifespan of 60 years, particularly for structures 300m2 and below.

Not as simple to apply as the pre-bagged system, on account of its additional components, Sika® CD-Cavity Drain System is a more ideal waterproofing solution for areas larger than 300m2. Ongoing running costs are incurred, as the system requires regular maintenance.

Sika®-1 Pre-Bagged or Sika® CD-Cavity Drain system…whichever system you choose as your belowground solution, you are guaranteed the same quality: superb, long-term waterproof performance.

  • Sika operates a Registered Contractors scheme, designed to help facilitate the selection of suitable contractors to install Sika waterproofing systems including Sika®-1 and Cavity Drain. Choosing a Sika Registered Contractor provides total quality control – from product to service and installation – giving clients added reassurance that they will receive the highest standards of professionalism at every stage.
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