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TARMAC OPENS HOUSING DIVISION

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Construction giant Tarmac has launched its contract housing division as a standalone business in a move the firm sa...
Construction giant Tarmac has launched its contract housing division as a standalone business in a move the firm says reflects its commitment to council and other social housing.

Tarmac Contract Housing has a turnover of £110 million a year, and despite now operating separately from Tarmac's other activities, there was no question of it being floated or sold off.

THC managing director John Dalgarno said the company remained interested in the private finance initiative and had examined the possibilities offered by the creation of local housing companies.

But he said councils had to be interested in the PFI 'in the first instance' if partnerships were to work.
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