ACR-News
Know what you want? Try our 'Supplier Directory' 

MITIE pulls out of M&E

UK: MITIE, one of the UK's largest services contractors, is closing down its mechanical & electrical division, due to the slump in the market and poor margins.
The announcement follows the company's decision in November to reduce its large M&E contracts and retrain and redeploy mechanical and electrical staff into its facilities management division.

A statement by the company stated: 'In response to the fundamental changes taking place in our markets, we have taken steps to evolve the structure of our business. We have reduced our exposure to the cyclical mechanical and electrical engineering contracting markets as they are unable to offer strong margins and good growth opportunities.'

In its latest results, the M&E division generated revenue of £139.9m, down over 20% on last year, and incurred a trading loss of £3.1m.

MITIE has not said how many employees will be affected but has put the business closure costs at £22.1m.

World Refrigeration Day

Industry has embraced the inaugural World Refrigeration Day (WRD) with events happening all over the world....

  25-Jun-2019

Vaisala HVAC offering

High quality HVAC products bring major benefits for all your project stakeholders....

  13-Feb-2020

New Zanotti GM Wall Mounted Monoblock

AFR Refrigeration Ltd introduces the new GM range of through wall mounted monoblocks with refreshed modern appearance and upgraded touch style control panel keypad.
  14-Feb-2020
ACR News is the number one magazine in the air conditioning and refrigeration industry. Don’t miss out, subscribe today!
Subcribe to ACR News

Diary

Euroshop
Institute of Refrigeration Annual Dinner
Futurebuild
Data Centre World

Most read stories

over the last six months