Jarvis PLC
Encyclopedia
Jarvis plc is a British company that provides support services to the British railway industry
. It also runs rail freight operations. The most significant feature of the modern firm is its leading share of the UK’s railway maintenance and infrastructure services.
was appointed Chief Executive and refocused the business on infrastructure maintenance and renewal. The Company acquired the Northern Infrastructure Maintenance Company, a rail maintenance business, in 1996. It went on to buy Fastline
, a rail freight business, and Relayfast, a rail engineering business, in 1997. In 1998, it entered the road and airport maintenance business by acquiring Streamline Holdings.
In 2002, 7 people were killed when a train derailed at Potters Bar after passing faulty points. As Infrastructure Maintenance Contractor for the line, Jarvis was considered jointly responsible for the crash (along with Railtrack
), with the Office of Rail Regulation
declaring "Jarvis’s performance fell far short of that to be expected of a competent IMC".
Mr. Moayedi resigned as chairman of the company in 2003 and was replaced by Steven Norris
. The Company gradually over-extended itself and in 2004 was forced to sell its PFI
business to Vinci
, its European roads business to French
group Somaro
and its stake in Tubelines to Ferrovial
.
The company also entered the vehicle hire business with a fleet of 1,700 vans by 2010.
In March 2010, the company announced that it was to enter administration, saying that, "Following negotiations with the company's secured lenders, it has today become clear that sufficient support will not be extended to the company to enable it to continue trading as a going concern."
Rail transport in Great Britain
The railway system in Great Britain is the oldest in the world, with the world's first locomotive-hauled public railway opening in 1825. As of 2010, it consists of of standard gauge lines , of which are electrified. These lines range from single to double, triple, quadruple track and up to twelve...
. It also runs rail freight operations. The most significant feature of the modern firm is its leading share of the UK’s railway maintenance and infrastructure services.
19th and 20th centuries
The company was founded in 1846 as the Jarvis Construction Company. In 1994, Paris MoayediParis Moayedi
Paris Moayedi is the entrepreneur who expanded Jarvis plc from a small construction business into one of the UK's largest engineering contractors.-Career:...
was appointed Chief Executive and refocused the business on infrastructure maintenance and renewal. The Company acquired the Northern Infrastructure Maintenance Company, a rail maintenance business, in 1996. It went on to buy Fastline
Fastline
Fastline was a railway freight operator. It was part of Jarvis plc. It ceased trading when Jarvis plc entered administration and subsequently ceased trading in late March 2010. The company is in administration with N.G. Edwards, N.B. Kahn, P.S. Bowers and I. Brown of Deloitte LLP.They operated a...
, a rail freight business, and Relayfast, a rail engineering business, in 1997. In 1998, it entered the road and airport maintenance business by acquiring Streamline Holdings.
21st century
Railtrack
Railtrack was a group of companies that owned the track, signalling, tunnels, bridges, level crossings and all but a handful of the stations of the British railway system from its formation in April 1994 until 2002...
), with the Office of Rail Regulation
Office of Rail Regulation
The Office of Rail Regulation is a statutory board which is the combined economic and safety regulatory authority for Great Britain's railway network. It was established on 5 July 2004 by the Railways and Transport Safety Act 2003, replacing the Rail Regulator...
declaring "Jarvis’s performance fell far short of that to be expected of a competent IMC".
Mr. Moayedi resigned as chairman of the company in 2003 and was replaced by Steven Norris
Steven Norris
Steven John Norris is a British Conservative politician. He was the official Conservative candidate for Mayor of London in 2000 and 2004, losing in both races to Ken Livingstone....
. The Company gradually over-extended itself and in 2004 was forced to sell its PFI
Private Finance Initiative
The private finance initiative is a way of creating "public–private partnerships" by funding public infrastructure projects with private capital...
business to Vinci
VINCI
Vinci is a French concessions and construction company, formerly called Société Générale d'Enterprises. It employs over 179,000 people and is the largest construction company in the world by revenue. Vinci is listed at Euronext's Paris stock exchange and is a member of the CAC 40 index...
, its European roads business to French
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
group Somaro
Bouygues
Bouygues S.A. is a French industrial group headquartered in the 8th arrondissement of Paris, France. Bouygues is listed on Euronext Paris exchange and is a blue chip in the CAC 40 stock market index. The company was founded in 1952 by Francis Bouygues and since 1989 has been led by his son Martin...
and its stake in Tubelines to Ferrovial
Ferrovial
Ferrovial, S.A. is a Spanish multinational company involved in the design, build, financing, operation and maintenance of transport, urban and services infrastructure. It is a publicly-traded company and is part of the IBEX 35 market value-weighted stock market index...
.
The company also entered the vehicle hire business with a fleet of 1,700 vans by 2010.
In March 2010, the company announced that it was to enter administration, saying that, "Following negotiations with the company's secured lenders, it has today become clear that sufficient support will not be extended to the company to enable it to continue trading as a going concern."