WOLKERSDORF, Austria, Aug. 22, 2018 /PRNewswire/ -- Network Rail confirmed that CPL Ltd., a 100% subsidiary of SPL Powerlines UK, will continue to work on the L2C (Midland Mainline) and H2M (Shotts) electrification projects. The total contract value of the two projects is GBP 320.5 mill. / EUR 357.6 mill.
This confirmation of the continuation of the electrification projects by Powerlines follows SPL Powerlines UK acquisition of the 50% shares previously held by Carillion, who were declared bankrupt on 15.01.2018, in the Joint Venture CPL. Since its acquisition in March 2018, CPL Ltd. has been owned 100% by Powerlines Group. Around 200 former Carillion staff have been taken on by SPL Powerlines UK since the beginning of April. The UK subsidiaries of the Austrian Powerlines Group employ a staff of over 550 people, making Powerlines one of the UK's market leaders in rail electrification and one of the ten largest Austrian subsidiaries in the UK. The contract confirmation ensures the job security for all the company's employees.
Gerhard Ehringer, CEO of the Powerlines Group, said: "I'm particularly delighted that Network Rail relies on Powerlines´ capability to deliver and works with us on the successful continuation and completion of the two major projects. The purchase of Border Rail Ltd. in 2009 marked our entry into the UK market. Now, nine years later, the UK has become the most important market for the Powerlines Group, alongside Germany."
The Powerlines Group is an international corporate group active in the RAIL, PRODUCTS and ENERGY markets. Powerlines is a system supplier in the RAIL industry and offers international customers a comprehensive range of services for railway electrification – including consulting and engineering, products, installation and maintenance. In the PRODUCTS industry Powerlines develops and distributes innovative components and complete systems for railway electrification. In the ENERGY industry Powerlines plans, installs and maintains high voltage transmission lines for energy providers. Powerlines Group is one of the market leaders in Austria, Germany, the UK and Scandinavia.
SOURCE Powerlines Group GmbH