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Firm quits over 'delays'

Aggreko confirms Olympics bid withdrawal

Aggreko rag-outPower company Aggreko has officially confirmed that it has withdrawn from the bidding process for the 2016 Rio de Janeiro Olympic and Paralympic Games. 

The Glasgow-based company issued a statement following speculation earlier this week (reported in Daily Business on Monday) that it had become frustrated by delays in negotiating terms.

It said: “The contracting entities have taken the decision to award the power provision in parts and we have been advised that we have not been awarded the first tranche of contracts. 

“Given the preparation required for an event of this scale, we have withdrawn from bidding for the remaining tranche.”

Chris Weston, chief executive, said: “We have given considerable thought to our decision to withdraw from the bidding process and I would like to thank our team for all their hard work.  We wish Brazil, the Rio 2016 Committee and the International Olympic Committee the very best for a successful games.”

Officials in Brazil say construction of venues and infrastructure remains on track, but recently admitted Brazil’s recession is making delivery of the Games more difficult.

The Games are due to open on 5 August.

The decision to withdraw is expected to be felt by the company which relies heavily on set-piece events such as sport and music concerts for a large part of its revenues.

The London Games were worth £40 million to the company which provided 550 generator sets, 1,500 kilometres of cable and 5,500 distribution panels across 39 venues.

 

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